Bulgarian City of Shumen To Set Up 250 Ha Industrial Zone

During the first stage of the project, Niki BT will invest 6.0 million levs ($4.4 million/3.2 million euro) in infrastructure on 70 hectares of land provided by the municipality, Daniela Ruseva, chairwoman of the Shumen municipal council, told SeeNews. A deal for the private-public partnership is to be signed later this month.

The first stage should be completed within three years and the whole project should wrap within a decade, she added.

The joint venture will sell sites for industrial construction in the zone.

The municipality has scrapped previous plans to establish an innovation park to accommodate mainly facilities for alternative energy and fuels, said Ruseva.

A total of 50 hectares will be designated for a “high-tech park" under the new project, but no investors have shown interest in the first stage of the project.

Bulgaria's Innovation Company said last month it has put on hold plans to build a 120 megawatt solar park in Shumen after the local authorities made changes to the concept for the planned innovation park.