Date Target Vendor Investor Size Comment
February 20 Opens flat glass plant Targovishte Municipality Turkish glassmaker, Sisecam EUR 100 m The company will have invested a total of $220 m the launch of its two other production units in 2006. Sisecam expects $147 m in annual revenue from its three production units in Bulgaria after their completion in 2006 and would create 1,065 jobs in a region of Bulgaria where the unemployment rate hovers around 30%, much higher than the country's average.
February 17 Construction of additional 6 hypermarkets Bulgaria German food retailer Kaufland EUR 300 m investment plan The company, which started building its first outlet in the country of nearly eight million people last year, wants to have 40 hypermarkets in Bulgaria.
February 17 New filling stations and developing LPG wholesale network Bulgaria Turkey's Opet/Aygaz EUR 11 m In the long term the company's ambitions are to strengthen its positions with a well-developed countrywide network of 80 filling stations and a market share of 10%. Opet/Aygaz long-term investment plans in Bulgaria include spending of around $100 m.
February 15 Construction of nationwide terrestrial trunked radio, or TETRA, network. Bulgaria ProWave EUR 30m ProWave, which won a 15-year nationwide TETRA license in late 2005, plans to launch its services at the beginning of this summer.TETRA is a system for encrypted digital mobile radio communications used mainly by emergency services, police and utility companies.
February 15 New vineyards Svilengrad Municipality French wine and spirits group Belvedere EUR 12 m Some EUR 7.5 m will be invested within three years in planting 5,000 to 6,000 decares [500-600 hectares] of vines and the rest of the money will be used for the construction of a wine cellar to be completed by September.
Deals, contracts, tenders and outsourcing for a total value of more than BGN 2 mln. and projects of strategic interest to Bulgaria
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas
GOVERNMENT AND EU | REAL ESTATE AND FINANCE | EU TOPICS
Date Subject Institution Comment
February 20 Four firms vie for power trading licences in Bulgaria State Energy and Water Regulatory Commission (SEWRC) E.ON Sales and Trading Bulgaria, a wholly owned subsidiary of E.ON's trade unit E.ON Sales & Trading, set up with one million levs capital, wants to get a 10-year licence for trading in electricity and energy.
February 20 Industrial cluster eyes concession procedure for Varna-West port terminal Media The companies in the Port Varna-West industrial cluster have earmarked a total of EUR 500 m for investment spending over the next 4 years.
February 16 Bulgaria's land market to continue growth in 2006 Agriculture Minister In 2005 a record was registered in deals both in terms of number and value; 560,000 decares [56,000 hectares of arable land] were purchased at the average of 169 BGN per decare ($102.8/86.6 euro), which is record, compared to previous years, and close to 30% higher, compared to 2004, which was due to higher demand than supply.
February 16 EU's Phare to finance cluster projects in Bulgaria Media EU's Phare program has earmarked 2.4 mln euro for the creation of 15 industrial clusters in various parts of Bulgaria in '07.
News and events important for investors related to the Bulgarian legislation, government and EU policy, financial and real estate sectors.
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas

Belgium's Cumerio to invest EUR 82 m in new refinery

- Investor: Belgian copper producer Cumerio
- Project: construction of a new copper refinery and increasing the capacity of its existing copper smelter
- Volume: EUR 70 m ($83.6 m) and EUR 12 m

Pirdop's annual refining capacity will be increased by 120,000 tonnes. This will be realised through the construction of a new refinery with a total installed capacity of 180,000 tonnes per year. The new refinery is expected to be fully operational from early 2008 and the existing refinery in Pirdop will be closed down afterwards.

Cumerio's Bulgarian plants and an adjacent copper mine are situated in Pirdop, 80 kilometres east of the capital of Sofia and some 400 kilometres west of Bulgaria's Black Sea port of Varna.

Cumerio's Copper Refining business unit posted a EUR 67.4 m recurring earnings before interest and taxes (EBIT) for 2005, about 4.6 times the 2004's EBIT. Cumerio's 2005 turnover was EUR 1.965 bn for 2005, up from 1.524 bn in 2004 and its net consolidated profit for the period was EUR 42.7 m, compared to EUR 15.5 m in 2004.
Showcase of important issues, deals, and events.
With the contribution of Rivas
February 22, 2006