BULGARIAN ECONOMY

"Plastchim-T" will invest BGN 33 million in a new cellophane facility

Company "Plastchim-T" will invest BGN 32.9 million in expanding its production in the town of Aksakovo, near Varna and for this purpose will buy new energy-saving machines. On Monday, the Ministry of Economy awarded the company a “Class A” Investor Certificate which entitles it to administrative and other incentives. Since the beginning of the year InvestBulgaria Agency has issued five certificates for planned investments to a total of BGN 454 million, which will bring about the opening of 580 permanent jobs, Minister Delyan Dobrev said during the award ceremony.

The new factory, which will be built with loans from BNP Paribas and Unicredit Bulbank, will start operating by the end of next year and will create jobs for 50 people. "Plastchim-T" is going to purchase a machine for the production of biaxially oriented polypropylene film (cellophane), cutting and slicing equipment (slitter) and a recycling system. The goal is to double the current production capacity. The foils are used mainly in the food and chemical industries, construction, transport and printing.

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