January 12 (SeeNews) - An unnamed Saudi Arabian company is interested in investing jointly with Bulgarian state-owned dairy maker LB Bulgaricum in a project for construction of a dairy farm and production facility in Bulgaria, the economy ministry said on Thursday.
The farm's output will be processed in Bulgaria, with the dairy products to be exported to the Gulf region, the ministry said in a press release. The proposed dairy farm would have the potential of becoming the largest such facility in Bulgaria and the region of Southeast Europe (SEE).
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The Saudi company currently manages a farm with around 190,000 dairy cows, roughly the same number as all registered cows in Bulgaria, the ministry noted. Representatives of the company are expected to visit Bulgaria to work out the specific parameters of the potential deal, which would expand the Saudi producer's presence in SEE and provide access to the single European market.
Saudi Arabia has also expressed interest in building a cargo airport in Bulgaria and would also explore opportunities for the creation of an industrial zone, as part of the Saudi National Industrial Development and Logistics Programme (NIDLP) focusing on energy, mining, industry and logistics. NIDLP representatives are expected to visit Bulgaria for talks on potential investments in the first half of 2023, the economy ministry said.