September 25 (SeeNews) - The European Investment Bank (EIB) is considering providing a 100 mln euro ($118.9 million) loan for a project for expanding the production capacity of Bulgarian veterinary drug maker Biovet, data from EIB’s website shows.
“The project consists of the construction of new manufacturing facilities, as well as financing of the promoter's research, development and innovation (RDI) activities,” the EIB says in a list of projects in the pipeline published on the bank's website.
Financing for the project is currently under appraisal.
The total cost of the project is 222 million euro, according to the project summary.
Biovet is majority owned by Bulgarian pharmaceutical company Huvepharma.
In Bulgaria, Biovet currently has three production plants - in the towns of Peshtera, Botevgrad, and Razgrad.
($ = 0.8412 euro)