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Bulgaria names sisecam first class investor

Date: 30.09.2005

Bulgaria handed a "First Class Investor" licence to Sisecam, the Turkish glassware giant.

They are set to build four factories in Bulgaria, in a project worth a record USD 220 M.

The facilities will rise near the town of Targovishte, northeast Bulgaria.

"This important project for the Bulgarian economy is an example of the successful cooperation between an investor, ventral and regional state administration," Economy and Energy Minister Rumen Ovcharov said Tuesday.

Turkey's giant glass producer owns three plans in the town of Targovishte, north-east Bulgaria, the first of which has already opened doors earlier this year. Sisecam plans to export about 90% of the Bulgaria-made production to the EU market.

By end-2006 Turkish investments in Bulgaria are expected to reach some EUR 300-350 M, InvestBulgaria Agency's chief Pavel Ezekiev said at Tuesday's Turkish-Bulgarian business forum. Currently that amount stands at EUR 15 M, invested by some 30 Turkish companies operating here.

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