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Solvay Sodi in talks on investments at Devnya

Soda ash producer Solvay Sodi plans long term investments in its facility at Devnya, north-eastern Bulgaria, Executive Director Frank Schneider told reporters on 18 April 2006, following a meeting wit…

Soda ash producer Solvay Sodi plans long term investments in its facility at Devnya, north-eastern Bulgaria, Executive Director Frank Schneider told reporters on 18 April 2006, following a meeting with Bulgarian Economy and Energy Minister Roumen Ovcharov. Schneider said that the future investment plans depend on the resolution of two key issues: the concession of the Varna West port, and environmental protection commitments that Bulgaria agreed to in its accession treaty to the EU. He said a vote on the future investment plans will take place at the company general meeting scheduled for May 2006. Ovcharov said that the answers to the two questions raised by Schneider will arrive after the passage of the new concessions bill and the announcement of the procedure to award a concession at the Varna West port. He said that 80% of the output of the Devnya cluster, of which the Solvay Sodi plant is part, is exported through the port. Schneider recalled that since its decision to invest in Bulgaria in 1997, the Belgian Solvay company has invested USD 190 million to date in the country. He assessed the development of the Devnya plant as successful and expressed a hope that the positive dialogue with the Bulgarian government will continue.

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