Turkey's Sisecam launched its project for building a production line for flat glass in the Bulgarian town Targovishte, making the biggest greenfield investment in this field in the country.
Geological studies were given the green light on Friday under a contract signed between Alev Yaraman, Executive Vice President, Chief Executive Flat Glass, and Deputy Prime Minister and Economy Minster Lidia Shuleva.Sisecam holding's daughter company Trakiya, the only producer of flat glass in Turkey, will be in charge of the investment project. The company holds 3% share of the world and 9% share of the European capacity for flat glass production.
The Turkish giant is expected to invest a total of USD 170-180 M in the project.