"Aurubis" invests BGN 800 million in Bulgaria

The company is starting the expansion of cathode copper capacity, construction of new photovoltaic plants, energy efficiency programs and modernization of the main production at the Pirdop plant as part of the large-scale investment program "Investments for Progress. Bulgaria 2027".

"Aurubis" announced the start of a large-scale investment program for the country, "Investments for progress. Bulgaria 2027" worth BGN 800 million. On April 25, the first sod was laid for the expansion of the cathode copper refinery at the company's plant near Pirdop and Zlatitsa. The production capacity of cathode (refined) copper will be increased by 50% - from 230,000 to 340,000 tons per year. Refined honey is Bulgaria's main export.

"The start of new projects shows how we are consistently implementing our strategy for sustainable growth. The expansion of the refinery will help us to meet even better the growing need for copper, the element of the energy transition, on a global scale," said Roland Harings, CEO of the Aurubis Group.

"This is an important day for Bulgaria and for Bulgarian-German relations," said the Minister of Economy Dr. Petko Nikolov during the ceremony. "The government focuses precisely on investments like this, which generate greater added value in the Bulgarian industry," he added.

With the expansion of the refinery, the construction of two new photovoltaic parks, "Aurobis-2" and "Aurubis-3" in addition to the first solar plant established in 2021, has begun. The fourth stage - "Aurubis-4" was also approved. After the completion of the projects, the photovoltaic complex of "Aurubis Bulgaria" will have 41 MWp of green capacities for its own needs, which will provide 15% of the energy required for production and save over 25,000 tons of carbon emissions per year.

The ceremony was also attended by the chief manager of the German-Bulgarian Chamber of Industry and Commerce Sonia Miklai, the commercial attaché of Germany in Bulgaria Moritz Seiler, the member of the European Parliament Tsvetelina Penkova, Prof. Dr. Markus Kramer from the Supervisory Board of the Aurubis Group, the mayors of Pirdop and Zlatitsa Angel Gerov and Lyubomir Tsvetkov, CEO of "Glavbolgarstroy Holding" Emil Angelov.

"We value our partnership for many reasons - compliance with the rules embedded in your DNA and to walk together on the path to the realization of really complex projects," said Emil Angelov. Glavbolgarstroy is the contractor for the construction of the expanded refinery.

"Aurubis Bulgaria" also started the first phase of the project to replace energy-intensive engines and units with energy-efficient ones of the latest generation, and the effect of replacing the engines alone is estimated to be 25 GWh less electricity consumption per year. The construction of the gas pipeline to the plant is also underway, which will allow the replacement of high-emission fossil fuels with natural gas.

"In the next few years, we will invest more than BGN 800 million here to secure the coming decades. "Thank you to the entire team involved in the projects," said Tim Kurth, CEO of Aurubis Bulgaria. European Internal Market Commissioner Thierry Breton congratulated the company in a special video message.

The projects are part of the four-year program "Investments for progress. Bulgaria 2027", which envisages securing the long-term future of the plant next to Pirdop and Zlatitsa and implements Aurubis' strategy for securing key materials for the European economy and achieving carbon neutrality by 2050.

The program also includes modernization of the main production in 2025, modernization of water purification and slag processing processes, a new fleet of wagons for transporting copper concentrates.

Aurubis AG is a leading global supplier of non-ferrous metals and one of the largest copper recycling companies in the world. Aurubis AG shares are part of the Prime Standard segment of the German Stock Exchange and are listed on the MDAX, the Global Challenges Index (GCX) and the STOXX Europe 600.

"Aurubis Bulgaria" AD operates the oil extraction plant near Pirdop and Zlatitsa and is the largest company in the country with structural importance for the Bulgarian economy.