TURKISH industrial holding Sisecam is to start building a glass factory in Rousse, on the Danube and plans to invest $100 million and open 200 to 300 jobs in its Rousse operation, Turkish ambassador to Bulgaria Haydar Berk said on Monday.
"Sisecam's investments will reach $170 to $180 million," Deputy Prime Minister and Economy Minister Nikolai Vassilev said after meeting the Turkish investors.
Initially, Sisecam plans to invest $100 million. Gradually, it will extend the plant's operation by launching production of other types of glass as well. The purpose is to turn Rousse into a main glass production centre in this part of Europe, Berk said in March.
The new facility will have an annual capacity of 2000 tons and will go into operation in 2005. The glass plant is planned to have a capacity of 150 000 tons of plate glass a year, 70 per cent of which will be exported. Sisecam holds a 2.5 per cent share of world plate glass production. The investment project will be financed by Sisecam itself and by the International Finance Corporation.
Sisecam Vice President Alev Yarman said that the project would promote economic co-operation between the two countries and would contribute to their prosperity.
"Sisecam accepted the plot it was offered for its construction," said Deputy Economy Minister Nikola Yankov, who chairs an interdepartmental group for assisting this Turkish investment.
Representatives of Sisecam Holding met Prime Minister Simeon Saxe-Coburg and handed him a letter of intent.
Ezekiev accompanied the investors during their meeting with Government officials, Minister of State Administration Dimitar Kalchev, and Saxe Coburg.
Representatives of the holding also met Vassilev, Deputy Finance Minister Gati al-Jeburi and representatives of the Movement for Rights and Freedoms in their capacity as partners in the governing coalition.
Earlier in March, a six-member delegation of the company met state and local authorities at the beginning of the month but failed to reach an agreement. At the time, Sisecam Holding handed a letter of intent for the construction of a plate glass factory near Rousse to the Bulgarian Government, Regional Gover-nor Roumen Yanouarov said
Sisecam intends to move its windscreen glass production to Bulgaria and to invest in the ceramics industry. The Turkish company has asked that the state construct the infrastructure around the plant including a road, gas pipeline and access to the network of the National Electricity Company. The Government has not yet calculated the exact cost of the infrastructure project.
It will use its own funds and funds of the International Financial Corporation. Sisecam is the largest glass producer in Turkey with annual sales of more than $1.0 billion.
"Sisecam's investments will reach $170 to $180 million," Deputy Prime Minister and Economy Minister Nikolai Vassilev said after meeting the Turkish investors.
Initially, Sisecam plans to invest $100 million. Gradually, it will extend the plant's operation by launching production of other types of glass as well. The purpose is to turn Rousse into a main glass production centre in this part of Europe, Berk said in March.
The new facility will have an annual capacity of 2000 tons and will go into operation in 2005. The glass plant is planned to have a capacity of 150 000 tons of plate glass a year, 70 per cent of which will be exported. Sisecam holds a 2.5 per cent share of world plate glass production. The investment project will be financed by Sisecam itself and by the International Finance Corporation.
Sisecam Vice President Alev Yarman said that the project would promote economic co-operation between the two countries and would contribute to their prosperity.
"Sisecam accepted the plot it was offered for its construction," said Deputy Economy Minister Nikola Yankov, who chairs an interdepartmental group for assisting this Turkish investment.
Representatives of Sisecam Holding met Prime Minister Simeon Saxe-Coburg and handed him a letter of intent.
Ezekiev accompanied the investors during their meeting with Government officials, Minister of State Administration Dimitar Kalchev, and Saxe Coburg.
Representatives of the holding also met Vassilev, Deputy Finance Minister Gati al-Jeburi and representatives of the Movement for Rights and Freedoms in their capacity as partners in the governing coalition.
Earlier in March, a six-member delegation of the company met state and local authorities at the beginning of the month but failed to reach an agreement. At the time, Sisecam Holding handed a letter of intent for the construction of a plate glass factory near Rousse to the Bulgarian Government, Regional Gover-nor Roumen Yanouarov said
Sisecam intends to move its windscreen glass production to Bulgaria and to invest in the ceramics industry. The Turkish company has asked that the state construct the infrastructure around the plant including a road, gas pipeline and access to the network of the National Electricity Company. The Government has not yet calculated the exact cost of the infrastructure project.
It will use its own funds and funds of the International Financial Corporation. Sisecam is the largest glass producer in Turkey with annual sales of more than $1.0 billion.
