Investments in Bulgaria Grow in Defiance of Pandemic: PM Borissov

Business » INDUSTRY | March 19, 2021, Friday // 11:50
Bulgaria: Investments in Bulgaria Grow in Defiance of Pandemic: PM Borissov

"Despite the pandemic, investments in Bulgaria not only do not shrink, but are even growing. We have very well-qualified workers, we have highway, rail, energy infrastructure, we also boast the lowest tax rates in Europe. This stability leads to an increase in GDP and hence people's incomes in all sectors."

This was stated by Prime Minister Boyko Borissov, who inspected the progress of the construction of the gas pipeline to Panagyurishte and Pirdop. The project is key for the region because it will benefit both large industrial users and kindergartens, schools, other institutions and households in the region.

"We are building this pipeline not just for the factories, but for the people as well. By the end of the year we will also build the interconnector with Greece, allowing for the supply of liquefied gas from all over the world", said Prime Minister Boyko Borissov. Near the expansion of the gas transmission network to Pirdop is a plant of the Aurubis group. The company is one of the most environmentally friendly copper producers in the world.

In Bulgaria, Aurubis Bulgaria is the largest taxpayer and has a structurally defining role for our economy with 870 direct jobs and 2,500 indirect. The company makes a key contribution to our country's GDP through exports, imports, providing business for a number of Bulgarian companies along the supply and maintenance chain.

  "The company invests billions, has created thousands of jobs and is extremely committed to environmental protection, as it has implemented new efficient and sparing technologies", Prime Minister Borissov noted. Aurubis Bulgaria has invested over EUR 600 million in Bulgaria in 1998-2018, and a further EUR 132 million in 2014-2020. The pipeline, which is an extension of the national gas transmission network to Panagyurishte and Pirdop, has a design length of 61.5 km and a capacity of 30,000 m3/h.

In addition to the linear part of the pipeline, 2 automatic gas regulatory stations are planned to be built – one near Panagyurishte and the other – to Zlatitsa. The construction of the new gas pipeline will create conditions and prerequisites for gas supply to industrial consumers, public and administrative users in the region, for the household gas supply to the municipalities of Panagyurishte, Pirdop, Zlatitsa, Lesichovo, etc., as well as a potential opportunity for gasification of the municipalities of Strelcha, Mirkovo, Chavdar and Chelopech. Later, Prime Minister Boyko Borisov visited the Aurubis plant in Pirdop, where he examined the modernized production line.

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Tags: Bulgaria, investments, Prime Minister, inspection, pipeline, Aurubis

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