The Minister of Innovation and Growth, Milena Stoycheva and the Executive Director of the Bulgarian Investment Agency (IBA), Mila Nenova, awarded a Class A certificate to “SVILOSA – ZIK” AD for the investment project “Installation for the production of microcrystalline cellulose”, which will be implemented in Svishtov, Veliko Tarnovo region.

The investment project envisages the construction of an entirely new installation for the production of microcrystalline cellulose. The amount of the investment amounts to BGN 25 670 000. and 40 new jobs are expected to be created.

“For more than 20 years, we have been investing in green energy and the circular economy. With this project we will close the cycle of production from raw material to final product, ” stated the owner Krasimir Dachev. He stressed that the company follows an ambitious investment strategy in order to strengthen their leadership position in the Balkans and Europe in this sector.

Microcrystalline cellulose is used as a filling in the production of cosmetic products, medicines, ceramics and is a preservative E-460, which is used in the food industry in the production of pastry and confectionery, sauces and low-calorie dairy products. In pharmacology, it is used in the preparation of self-adhesive dental materials and cosmetic products. In the chemical industry it is used for the preparation of ceramics, sorbents, rubber and polyurethane, heat-resistant bitumen coatings.

SVILOSA-ZIK JSC is part of the group of Svilocell EAD and is the only producer of sulphate bleached pulp and such type of products in Bulgaria. The company has a structurally determining role in the Bulgarian pulp and paper industry and is a market leader in the country and the region. “Svilosa – ZIK” AD is export-oriented, as the company exports nearly 85% of the produced sulfate cellulose. Major foreign markets are Turkey, Greece, Germany, Italy, Serbia, Romania, Egypt.