Chinese Co Eyes Bulgaria's Burgas Industrial Zone
A Chinese investment fund has declared interest in projects and business opportunities in Bulgaria's Black Sea city of Burgas.
According to the announcement of the Burgas City Hall, the company is the China Camc Engineering Corporation.
The company works with top Chinese investors and businesses in Asia and Europe. Its activities include financing of large projects, mainly in infrastructure. The current interests of the company are directed towards projects in Eastern Europe.
The Deputy Mayor of Burgas, Krasimir Stoychev, has presented before the Chinese guests the city's industrial zone, the Bulgarovo technology park, and has discussed with them plans to create a public-access area near the port.
China Camc Engineering have voiced interest in opportunities of having an industrial and logistics park in Burgas and have committed to present the project before their Chinese business partners.
In March 2011, Mayor Dimitar Nikolov announced that Bulgarian and foreign companies were constantly inquiring with the city of Burgas for plots, which is why the Burgas Municipality has moved to set up a new industrial zone.
Nikolov declared his hopes for greater investments and more new jobs over the recently announced new industrial and logistics zone to be set up in Bulgaria's Black Sea city and port of Burgas by the local municipality administration and the state-owned "National Company Industrial Zones."
The new industrial zone will be called "Logistics and Industrial Park – Burgas" EAD, and will be located on the territory of Industrial Zone "Burgas-North".
The Burgas Mayor also tabled to the city council the proposal for the setting up of the joint venture with the state-owned company in charge of Bulgaria's industrial zones.
The plot of the future industrial zone used to be a dumping ground and a swamp.
"All kinds of firms – including local – are coming to the municipality and asking for land where they can set up storage or manufacturing operations. We don't have any free space, which is why we decided to set up this industrial zone," Nikolov said at the time, adding that future investors will have flexible options – from renting the land and facilities to buying them.
According to him, Burgas relied on the contribution of the National Company Industrial Zones, which has a budget of BGN 30 M in total to improve the infrastructure of future industrial terrains around the country. He further informed that the Burgas Municipality will contribute the land to the future joint venture with the state company.
Nikolov promises that the future industrial zone will have convenient connections to the railway network and the Black Sea Port of Burgas.
Bulgaria's National Company Industrial Zones was established in 2009 to provide for developing industrial zones at several major locations around Bulgaria at the junctions of key transport corridors, close to ports, airports, and industrial and city centers.
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