In the presence of Bulgaria“s Deputy Prime Minister and Economy Minister Lidia Shouleva, Dogan Arikan, president of Turkey“s Sisecam Group, and Khosrow Zamani, Director for Southeastern Europe and C…
In the presence of Bulgaria“s Deputy Prime Minister and Economy Minister Lidia Shouleva, Dogan Arikan, president of Turkey“s Sisecam Group, and Khosrow Zamani, Director for Southeastern Europe and Central Asia of the International Finance Corporation (IFC) signed on 25 June 2004, a loan agreement for Sisecam“s investment at Turgovishte, Northern Bulgaria. The USD 160 million project is for a flat glass plant and a glass tableware plant. The IFC, which is the private sector financing arm of the World Bank Group, will contribute USD 85 million under the loan agreement. Sisecam has finished all surveying work at the site and the ground-breaking ceremony will take place on 7 July 2004. Shouleva said the Sisecam investment project is very important for Bulgaria, as it is the first which implements individual services for big investors provided by the Investments Encouragement Act. The glassware plant will become operational in July 2005, and the flat glassworks at the beginning of 2006, Sisecam said. Both facilities will create 700 direct jobs, as well as additional jobs in construction, supply of raw materials, packaging and transport.