Bulgaria's Alcomet Plant to Cut Energy Costs by 30%

Bulgarian aluminum products marker Alcomet will cut energy costs by 30% thanks to a project under the Competitive Power Operational Program.

On Monday, Delyan Dobrev, Minister of Economy, Energy and Tourism, Totyu Mladenov, Minister of Labor and Social Policy, and Prime Minister Boyko Borisov opened new production capacities at the Shumen-based plant, according to a statement of Bulgaria's Ministry of Economy, Energy and Tourism.

As a result of the investment project worth EUR 15 M, the annual capacity of the rolling mill is to increase from 55 000 tonnes to 80 000 tonnes and the annual turnover of the plant is to reach EUR 200 M.

Alcomet is a beneficiary of a grant of BGN 3 806 726 under the Competitive Power Operational Program.

The implementation of the project at the aluminum-processing plant is expected to create 36 jobs.

In his Monday statement Dobrev announced that Alcomet AD was the biggest supplier of household foil on the European market with share of 20%.

He made clear that over EUR 65 M had been invested in the company over the past 13 years.

Bulgaria's Economy and Energy Minister reminded that Alcomet had been awarded a first class investment certificate in 2011 for an investment of BGN 26.8 M into the construction of    a casting line and a foil mill to its facilities.

Dobrev also congratulated the workers of the aluminum plant on their professional holiday.