An investment project for over BGN 136 million and 160 new jobs was launched in Shumen
The company for aluminum rolling and pressing products "Alcomet" in Shumen has launched a new project. The company's investment is over BGN 136 million and it is planned to create 160 new jobs. Deputy Minister of Innovation and Growth Krasimir Yakimov took part in the ceremony.
Following the Decision of the Council of Ministers, the company received a certificate for the priority investment project "Expanding the product mix by installing a continuous casting line, profile production lines, a universal foil press" under the Investment Promotion Act (IPA). The plant will be expanded and additional technological equipment will be installed. The goal is the production of new aluminum products to meet current market demand. New types of aluminum alloys will be produced, which are used in storage batteries (for electric cars), and in press production, the product range for automobile production and aluminum profiles for the solar sector is being expanded.
The Minister of Innovation and Growth signed a Memorandum of Understanding with the company, which defined the parameters of cooperation between the state and the investor for the implementation of the investment project. The company has successfully implemented several investment projects with issued certificates.
"We are actively working to promote investments and modernize enterprises in the country. We support the expansion of companies' production with all financial instruments under the Ministry of Innovation and Growth," commented Deputy Minister Yakimov.
We remind you that the Ministry of Innovation and Growth supports the development and construction of a total of 11 industrial zones and parks in the country with BGN 207 million, two of which are in Shumen. The funds are from the Recovery and Sustainability Plan under the "Program for Public Support for the Development of Industrial Areas, Parks and Similar Territories and for Attracting Investments ("AttractInvestBG")". Ten cities will receive funding: Ruse, Shumen (two industrial parks), Svishtov, Lovech, Sofia, Burgas, Stara Zagora, Vidin, Targovishte and Sliven. The industrial park in Shumen will receive a BGN 3.6 million grant from the ministry. The amount of aid for the second project there - the Madara industrial park - is BGN 13.3 million. "The only city in the country that won funding for two projects is Shumen," Minister Rosen Karadimov said at the time at a meeting with the local government and business.
The ceremony in Shumen was attended by President Rumen Radev, the Ambassador of Turkey to Bulgaria H.E. Mehmet Sait Uyanak, the mayor Prof. Hristo Hristov, the regional governor Beinur Ahmed, the executive director of the Bulgarian Investment Agency Mila Nenova, the entire management of the company and representatives of the local government.