Bulgarian Companies are Involved in Projects with over EUR 500 million in India

Business | March 6, 2018, Tuesday // 13:58
Bulgaria: Bulgarian Companies are Involved in Projects with over EUR 500 million in India Deputy Minister of Economy Alexander Manolev talks with Bulgarian representatives of "Excitel" source: mi.government.bg

Bulgarian companies are involved in the implementation of projects in India worth over 500 million euro . The projects are in the sphere of information technologies, internet, bio-toilets, solar parks, products for veterinary medicine.

This was announced by the Ministry of Economy on the occasion of the 18th Session of the Bulgarian-Indian Intergovernmental Mixed Commission for Economic and Scientific and Technical Cooperation, held in India. The Bulgarian Delegation is led by Deputy Minister of Economy Alexander Manolev. He had meetings with representatives of some of the companies.

Manolev has committed himself that the Bulgarian side will continue to support the Bulgarian companies operating on the Indian market. He is acquainted with the problems and difficulties they encounter.

The Deputy Minister of Economy will have meetings at the Ministries of Trade and Information Technology, with the leadership of the largest business organization in India and potential investors.

"Excitel" is an Internet provider

Excitel Broadband is a Bulgarian enterprise in India, a fast-growing Internet provider in the cities of New Delhi and Hyderabad. The company works with almost all leading Internet providers in 150 Indian cities.

In 2016, Excitel was licensed as a direct internet provider in Delhi and Hyderabad. Today, there are over 190,000 Internet users and the company employs about 500 people in India.

I hope that your example will be the basis for deepening the partnership with India in the field of information and communication technologies, including the opening of more joint ventures, Alexander Manolev said.

"In the coming days, I will be holding a high-level meeting at the Indian Ministry of Electronics and Information Technology, and during it I will highlight the results of your company as an example of how much we can achieve in this area if we join forces," Manolev said .

"GreenZone Bulgaria" makes bio-toilets

In July 2016, the Bulgarian company GreenZone Bulgaria, which is part of the Bulgarian consortium ASPA Engineering, has been certified together with their Indian business partners under the "Make in India" program to implement a large-scale investment project for the construction of a virtual sewerage network of the country. The project involves building, installing and maintaining hundreds of thousands of bio-toilets in India, the report said.

In 2017, GreenZone Bulgaria EOOD launched another large-scale investment project in India for the construction of a large photovoltaic park, with a capacity of 500 MW, near the town of Patna in the Indian state of Bihar. Currently, a $ 5 million investment in the project is planned by the Bulgarian side, with projections totaling around € 500 million.

Greenzone Bulgaria is owned by the Greenzone-registered company in Norway, reports the Trade Registry and is headed by Krassimir Gerasimov.

"ASPA Engineering" is the sole property of Valentin Milev and its last published financial report in the Commercial Register is from 2009

Bulgarian liquid bitumen packing plant

In November 2014, a Bulgarian Mumbai Liquid Bitumen Plant was put into operation worth 2.2 million euros. It was built by the Bulgarian-Indian holding "Prime Star Petroleum and Infrastructure Limited".

The Bulgarian-Indian factory is located on 28 decares and has a daily capacity for packaging of 450 tons of bitumen per shift. This is also Asia's largest bitumen packing facility.

"Huvepharma" with a plant for veterinary medicine products

In 2014, the Bulgarian company Huvepharma opened a joint venture for the production of veterinary pharmaceuticals near the Indian city of Pune.

Kiril Domuschiev then announced that $ 5 - 6 million had been invested initially, and that additional funds were invested in the next enlargement stages.

Bulgarian IT specialists with applications for mobile safety

Bulgarian IT specialists have developed innovative applications for mobile safety - iSOSu App and Imarecon.

Apps can instantly send instant SOS alerts with just one click and analyze images and video for real-time recognition and tracking.

The two requests successfully serve individual clients and police stations in India, the Ministry of Economy said in a statement.

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