site.btaAurubis Bulgaria Launches BGN 800 Mln, Four-Year Investment Project

At a formal ceremony here on Thursday, the German-owned copper producer Aurubis Bulgaria launched an extension of its cathode copper refinery and construction of two new photovoltaic parks.

At BGN 800 million, this is the largest German investment in Bulgaria, Aurubis Group CEO Roland Harings said during the event.

Ground for the four-year project was broken by Bulgarian Economy and Industry Minister Petko Nikolov, his Ministry said in a press release.

"This is an important day for Bulgaria and for Bulgarian-German relations," Nikolov said at the ceremony. He pointed out that the Government is focusing precisely on investments like this one, as they generate a higher added value in Bulgarian industry and production.

In his words, German companies are among the largest investors in this country. About 30% of the top 100 investors in Bulgaria are German companies, and Aurubis is the largest one among them.

Once extended, the cathode copper refinery will increase its production capacity from 230,000 tonnes to 340,000 tonnes annually. 

After the construction of two new photovoltaic parks and with the addition of a fourth one next year, the green energy generating capacity will reach 41 MWp. This programme is part of a long-term strategy to make the company carbon-neutral by 2050 and ensure the sustainable production of materials that are key for the European economy.

The ceremony was also attended by German-Bulgarian Chamber of Industry and Commerce (GBCIC) General Manager Sonja Miekley, Aurubis Bulgaria CEO and GBCIC President Tim Kurth, Pirdop Mayor Angel Gerov and Zlatitsa Mayor Lyubomir Tsvetkov.

Part of Hamburg-based Aurubis AG, Aurubis Bulgaria's main lines of business are processing of copper concentrates and manufacture of cathode copper, copper anodes, and co-products including sulfuric acid and iron silicate. In 2019 the company accounted for 8% of this country's total exports and 4% of the total imports. It is the largest taxpayer in Bulgaria.