More than USD 70 M have been invested in the first plant of the company in Bulgaria. It has been fully equipped with the newest technologies and under the world quality standards.
The project, finalized in 12 months is expected to create annual turnover of USD 55 M. The new glasswork manufacture is expected to create some 580 new jobs in the northern town of Targovishte, which is one of the most severely hit by unemployment regions in the country. About 90% of the Bulgaria-made production will head for the EU market and is expected to amount to USD 50 M.
The giant glass producers announced in the begging of July that it will increase the amount of its investments in Bulgaria.
Sisecam plans to invest a total of USD 160 M in the project, which encompasses the construction of two plants - glassware and sheet glass, which will rise opposite the first plant. Sisecam' total investments to Bulgaria will thus reach USD 220 M.