Knauf Gets 'Class A' Investor Status in Bulgaria with EUR 16 M Plant

Industry | November 21, 2011, Monday // 20:20|  views

Bulgarian Economy Minister Traikov (left) awards Knauf Bulgaria Manager Ingrid Jancker the "Class A" investor status certificate. Photo by Capital daily

The Bulgarian subsidiary of German company Knauf has been granted "Class A" investor status by the Bulgarian government for its investment into a new factory.

Knauf Bulgaria EOOD is expanding its manufacturing in Bulgaria with the opening of a third plant, an investment worth EUR 16 M set to create 30 new jobs.

The Class A investor status provides certain benefits for the respective investor on part of the Bulgarian government.

Knauf's new Bulgarian plant will be producing gypsum plasters some of which will be unique for all of Europe; it will be located in the village of Mednikarovo, Galabovo Municipality, near Bulgaria's thermal power plant complex Maritsa East.

"The intention of Knauf Bulgaria to expand its production is a proof that serious companies already operating in Bulgaria see a potential for their development here," Bulgaria's Economy Minister Traicho Traikov declared as he presented the Class A investor status certificate to Knauf Bulgaria Manager Ingrid Jancker.

The new factory will have an annual output of 110 000 metric tons. Bulgaria's Economy Minister praised the investment as innovative since it is going to use as a raw material refuse from the sulfur purification installations at the Maritsa East thermal power plants.

"This is an crucial direction for the development of the economy – energy efficient production that utilizes all by-products," Trajkov pointed out, stressing that Knauf's new factory for gypsum plasters can take advantage of EU funding under Operational Program Competitiveness.

Knauf's total investments in Bulgaria already amount to about EUR 100 M, with two other factories – in Vidin, which was bought from the Bulgarian state in 1997, and in the village of Mednikarovo, Galabovo Municipality, which was inaugurated in 2010. Knauf's two existing plants employ a total of 190 people in Bulgaria.

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Tags: KNAUF, Mednikarovo, Vidin, Galabovo, Maritsa East, Maritza Iztok, TPP, TPP Maritsa-Iztok, thermal power plant, Ingrid Jancker, Austrian companies, plant, factory, gypsum plasters, Economy Minister, Economy Ministry, Traicho Traikov, Class A investor status, foreign investor, Foreign investors, foreign investment, foreign investments, FDI


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