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Minister Karanikolov awarded a certificate of investment class “A” worth BGN 17 million

September 11, 2018

The Minister of Economy Emil Karanikolov awarded an Class “A”  Investment Certificate to SARC Bulgaria AD under the Investment Promotion Act (IPA). The amount of the investment reaches BGN 17 million and 40 new jobs will be opened.

The project "Production of Copper Wires" of the company aims to build a plant in Bulgaria in which to manufacture electric cables, mainly for the automotive industry, as well as special wires, which are widely used in the aviation and defense industries. The factory, which is planned to be built in the industrial zone of Shumen, will have a total area of ​​69 000 sq.m., equipped with environmentally friendly modern machines, fully in line with the modern technical requirements.

The production and administrative buildings will occupy around 7400 sq.m. The plant is expected to run for up to five years. Since the beginning of 2018, 15 certificates have been issued, 13 for class A, one for class B and one for priority investment projects. The total planned investment amounts are BGN 690,316 million with an expectations of 1316 new jobs.  Six of the projects are implemented in high-tech production and services.