Bulgarian soda ash producer Solvay Sodi, part of Belgian chemical and drug group Solvay, will invest EUR 70 million (USD 88.6 million) in its thermal power plant (TPP) at Devnya, Deven TPP, by 2008 to…
Bulgarian soda ash producer Solvay Sodi, part of Belgian chemical and drug group Solvay, will invest EUR 70 million (USD 88.6 million) in its thermal power plant (TPP) at Devnya, Deven TPP, by 2008 to bring production into line with environmental requirements for power facilities which enter force as of 2008, the company said. Solvay Sodi also plans to propose to its shareholders to invest an additional EUR 90 million (USD 114 million) to boost the capacity of its soda ash plant in Devnya. Solvay Sodi discussed the possibility of state support for the planned investments at a meeting with the Bulgarian Economy and Energy Minister Rumen Ovcharov on 8 May 2006. Solvay Sodi management and government officials also discussed the issue of the concession procedure for the Varna-West port. Four chemical sector companies, Solvay Sodi among them, which generate about 80% of the cargo turnover of the Varna-West port, formed a cluster in July 2005 to seek preferential participation in the port concession procedure.