A German company with an interest in an investment of over 1 billion euros in Northwestern Bulgaria
This would be the largest one-time investment made in the history of the Bulgarian economy
Source: Ministry of Economy and Industry
A German company expressed interest in an investment of over 1 billion euros in the region of Northwest Bulgaria. This became clear during a meeting between the Minister of economy and industry Nikola Stoyanov and the management of "Profine Energy GmbH". This would be the largest one-time investment made in the history of the Bulgarian economy, announced the press center of the Ministry of Economy.
"You can count on the full support of the state to speed up administrative procedures for the realization of investment intentions," emphasized Minister Stoyanov. He presented the opportunities for incentive measures that the investor can take advantage of.
“I know you are already in contact with many German companies that have chosen Bulgaria. I am sure that you will be convinced by them as well - German business feels good in our country and a number of companies are planning new expansions", emphasized Nikola Stoyanov.
The German company is in a very advanced phase of making its decision on investment in Bulgaria, it became clear during the meeting. The preparation of a Memorandum in which Profine Energy will express its interest in the investment in writing.
Profine Energy GmbH is a joint venture between Profine Group, Germany and Wirth Group, Germany. They have investment interests in the field of electricity generation from renewable energy sources.
The incorporation of a subsidiary of the German company under Bulgarian legislation is currently underway. Its purpose is the development and subsequent implementation of photovoltaic plants in Bulgaria, the representatives emphasized of the company.
The seriousness of the investment intention was confirmed during the meeting personally by the executive director of the group, Dr. Peter Mroslik (Dr. Peter Mroslik) and Markus Wirth (Markus Wirth), Chairman of the Board of the "Wirth Gruppe".
Last month, Profine Group and Wirth Group founded a joint energy service provider, Profine Energy GmbH, based in Waghäusel, Germany.
"Profine Group", under the brands KBE, KÖMMERLING and TROCAL produce PVC profiles for windows and residential doors, shutter systems and PVC boards. Consolidated turnover of the company is over EUR 900 million and the production capacity is approx. 450,000 tons of profiles per year. Profine Group has over 3,000 employees at 29 sites in 23 countries.