The Czech-owned electric power utility CEZ will invest BGN 1 936 000 M in a renovation of the “Metro”subfeeder, which provides electricity to the northwestern region of the Bulgaria's capital.
According to the company, the renovation will increase the safety level and will provide power for the development of new residential and business projects in the area. It will also decrease the number of breakdowns and will cut the repair time by 15 minutes.
“CEZ has always tried to invest...
The European bank groups represented in Bulgaria, which took part part in the pan-European bank stress tests demonstrated stability and high capital adequacy, the Bulgarian National Bank declared in a statement.
The European banking system stress tests were organized according to a decision of ECOFIN and were coordinated by the Committee of European Banking Supervisors (CEBS) in cooperation with the European Central Bank, the European Commission, and the consolidating national...
The Bulgarian military-industrial complex invests between 10% and 30% of its combined profit annually in research and development activities.
According to the latest report of the Bulgarian Defense Industry Association made public during its recent annual meeting this makes between BGN 2 M and BGN 6 M.
The total turnover of the Bulgarian military plants in 2009 was a little over BGN 200 M.
The major topic discussed during the annual meeting of the Bulgarian Defense Industry Association...
The savings of the Bulgarian households reached BGN 25.5 B in June 2010, which is a year-on-year increase of 13.4%.
According to latest data of the Bulgarian National Bank, the household deposits grew by BGN 218 M in June compared with the previous month.
Experts have attributed the increase of the savings to the fact that most Bulgarians are still afraid to spend, and are restricting their consumption.
The company deposits in Bulgaria dropped by 1.3% in June year-on-year, down to BGN...
The Gorna Arda hydropower plant project is extremely important for the development of the region of south-eastern Bulgaria, said Bulgarian PM upon the joining of Austrian energy giant EVN in the venture Monday evening in Vienna.
The Bulgarian National Electrical Company (NEK) and Austrian energy giant EVN stroke a deal earlier Monday over the construction and exploitation of the hydropower station during Borisov's official visit to Austria
Commenting upon the event, Borisov said that...
Two US companies have expressed interest in drilling for shale gas in Bulgaria, the Ministry of Economy, Energy and Tourism announced.
The Ministry has received a total of seven requests for exploration permits by two companies – Chervon Bulgaria Holding BV stationed in the Netherlands, and the Texas-based Integrity Tower Inc.
Chevron has expressed interest in exploring two sites, while Integrity Tower has asked for five permits for exploration in Northeast Bulgaria.
The possibility...
Bulgaria’s Cabinet has approved legislative measures providing for state aid and other incentives for foreign investments in projects entailing hi-tech industries, and research and development.
The Borisov government has adopted amendments to the Regulations for the Application of the Investment Encouragement Act.
The changes provide for a state aid to foreign investors reimbursing them with up to 50% for their spending on educational and research and development activities, and a...
Bulgaria's capital Sofia ranks third in the EU for drop of rent prices for outlets on commercial streets for the past three years, a research shows.
The research by the consultant company CB Richard Ellis (CBRE) showed that in the past three years the rents in Sofia have gone down by 38,46%.
In the last year the drop has increased to 27,27% with a drop of 11,11% only for the past three months.
According to another consultant company, Colliers International, the opening of new shopping...
The US ambassador to Bulgaria James Warlick gave an official presentation Tuesday of American company Chevron, which has expressed interest in drilling for shale gas in the country.
Chevron representatives, headed by company vice-president Ian MacDonald, are in Sofia for talks with PM Boyko Borisov and other high-ranking officials in order to present their offers.
“Bulgaria has the opportunity to diversify its energy sources. I hope that a prospecting license will swiftly be granted to...
Bulgaria's Environment Minister Nona Karadzhova has broken the ground for the construction of a glass recycling plant in the village of Ravno Pole near the capital Sofia.
The Ecopack, a joint stock company that does not distribute its profit formed in 2004 by 18 Bulgarian and foreign firms, is going to invest BGN 3.8 M in the glass recycling facility.
The plant is going to use empty bottles from around Bulgaria; the recycled glass material will be provided to two glass producing...
The export of Bulgaria's largest pharmaceutical company Sopharma has seen a substantial growth of 38% in the first half of 2010.
Only in June 2010, the company's exports grew by 66% compared to the same month of 2009, it has announced.
Sopharma's total sales have grown by 42% in June, with a 2% increase of the sales on the Bulgarian market.
The total sales for the first six months of 2010 grew by 23% year-on-year., with the sales on the Bulgarian market retaining their level from the...
The first Bulgarian factory for the recycling of old electric appliances and equipment, the largest and most modern of its kind in Eastern Europe, was opened Monday in the town of Novi Iskar near Sofia.
The Bulgarian company Nadin Jsc is the owner and operator of the new plant, and has invested BGN 40 M in its construction. It has created 150 news jobs.
The factory is the largest of its type in Eastern Europe and uses German technology allowing the complete recycling of used electric...
Chinese car parts manufacturer KSM Dongfang is going to purchase machines and equipment for EUR 1.8 M from the Ilinden factory located in Bulgaria’s Pleven.
The deal between the KSM Castings Dongfang located in Changchun in Northeastern China and the Bulgarian company from Pleven was signed in the presence of Bulgarian Economy Minister Traicho Traikov, who is on an official trip to China.
The KSM Castings Dongfang is part of the German-owned KSM Castings Group, and produces parts for...
Knauf, the German supplier of construction materials, announced it has put into operation what is claimed to be the most up-to-date plasterboard plant in Bulgaria, located near the power complex Maritza Iztok.
The company launched the construction of the plant in 2007 after qualifying for certification as First Class Investor by InvestBulgaria Agency, the local investment promotion authority.
The plant will use each year 300,000 tons of the by-product from the flue gas desulphurisation...
Bulgaria has managed to generate interest with Chinese companies and authorities for the setting up of a joint large-scale industrial zone at Bozhurishte near its capital Sofia.
The project, which was formally announced and approved by the Bulgarian government only last week, has been included in a special memorandum signed by Bulgarian and Chinese officials, the Economy Ministry has revealed.
The Memorandum for Encouraging Bilateral Economic and Commercial Cooperation between the...
The increase of the number of foreign holidaymakers during the summer season is expected to be about 10%, the Minister of Economy, Energy and Tourism, Traicho Traikov, told journalists Saturday.
Traikov says this number is on the rise each year, adding the highest growth so far is expected in 2011. Russian tourists would contribute the most to the increase with 30% more compared to previous seasons.
The positive trend is to include both mass and alternative forms of tourism – culture,...
Bulgarian producer of electric and LPG forklifts Di-Ven Ltd has presented the first Bulgarian electric light truck.
Di-Ven Ltd, which is stationed in the Danube town of Lom, and is one of the founding members of the Bulgarian Electric Vehicles Industrial Cluster (EVIC), has unveiled its electric truck project at the machine building fair “Mach Tech Expo 2010” taking place May 26-28, 2010, at the Inter Expo Center in Sofia.
Electric transport car model ETK 021 from the PONY series is a...
Canada-based mining company has started a diamond drilling program at its Breznik Gold Project in Bulgaria.
The program which will total seven holes and approximately 1,000 metres is designed to test the continuation of the currently identified mineral resource.
If successful, the drilling will double the strike length of mineralization at the EurOmax project in Breznik to the west of Sofia, the company announced adding that once the drilling is completed it intends to apply for a...
The company Carlsberg Bulgaria currently ranks second on the Bulgarian beer market, after Zagorka AD, and ahead of Kamenitza AD.
The results were reported Monday by the company's CEO, Aleksander Grancharov.
Carlsberg Bulgaria with two breweries, in the cities of Shumen and Blagevgrad, now has 30% of beer market in the country. The 3 companies together have a 91% share of the market.
In the first quarter of 2010, the leading brand of Carlsberg Bulgaria – Shumensko had reached a 19%...
The second bridge over the Danube between Romania and Bulgaria, now constructed near Vidin, will make Bulgaria more attractive for Austrian and German investments, said DG Regional Development director Dirk Ahner.
Sunday Ahner inspected the ongoing construction of Danube Bridge 2 together with Bulgarian PM Boyko Borisov, who had the chance to show to the European Commission representative other road projects in the region of northwestern Bulgaria.
"Our ambition is to connect Vidin to the...
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