Solvay Sodi: upgrades to plant electric grid

Bulgarian soda ash producer Solvay Sodi, part of the Belgian chemicals and drug group Solvay, said on 28 August 2006 that it has invested EUR 6.5 million (USD 8.3 million) to upgrade the electricity d…

Bulgarian soda ash producer Solvay Sodi, part of the Belgian chemicals and drug group Solvay, said on 28 August 2006 that it has invested EUR 6.5 million (USD 8.3 million) to upgrade the electricity distribution grid at its power plant in the northeastern Bulgarian town of Devnya. “The installed equipment combines high safety standards and contemporary supervision and control systems”, Solvay Sodi said in a statement. Earlier in 2006, Solvay Sodi said it would invest EUR 70 million in a circulating fluidised bed boiler in the power plant by 2008 in order to meet new European Union environmental legal limits. Solvay Sodi, in which Solvay, Turkish glass maker Sisecam and the European Bank for Reconstruction and Development (EBRD) jointly hold 98%, posted a net profit of BGL 6.1 million (USD 3.98 million/EUR 3.12 million ) for 2005, a quarter of the 2004 figure. The company paid no dividend for 2005.