The leading Bulgarian non-ferrous metals producers, Lead and Zinc Complex Jsc (LZC), has received permission for modernization and expansion of its facilities.

LZC has been granted a permit for building a new plant in the southern city of Kardzhali where its manufacturing operations are based.

The execution of the projects provides for increasing the zinc production capacity by 40%, and reaching the highest zinc mark of 99,995. The new plant is expected to be constructed by the end of 2011.

The project also involves modernization of the production with new environment-friendly technology which has already been purchased, and is worth EUR 40 M.

Bulgaria’s former Environment Minister, Dzhevdet Chakurov, from the DPS (Movement for Rights and Freedoms) party refused to grant a permit for LZC’s expansion for three years.

The majority owner of the LZC Jsc is Intertrust Holding, which is owned by the Bulgarian millionaire, Valentin Zahariev.

In January 2009, Zahariev said his company would file a suit against the government over the blockage of the LZC investment. He has been quoted by the Dnevnik Daily as saying the reasons for the delay were probably political.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!