February 13 (SeeNews) - Kastamonu Bulgaria, part of Turkish wood-based panels maker Kastamonu Entegre, said that it will fully comply with Bulgarian environmental requirements if allowed to proceed with a planned investment proposal worth over 120 million levs ($65.6 million/61.3 million euro) that has sparked protests from environmental activists.
"I declare the readiness of the company I represent for dialogue and transparency in all stages of the investment proposal," Çağatay Piyadeci, CEO of Kastamonu Bulgaria, said in an open letter to Bulgarian president, ombudsman and government ministers published on the website of the commercial and industrial chamber of the city of Stara Zagora last week.
The proposed investment is related to expansion of resin production capacity at the company's plant in the village of Gorno Sahrane, Stara Zagora municipality, in southern Bulgaria. Kastamonu has already invested over 120 million levs in the plant in 2021, a substantial part of which in ecological infrastructure, Piyadeci said.
Protests against the proposed project were held on January 23 as it involves the establishment of a new facility for the production of formalin - a raw material for the manufacture of resin that is highly poisonous, according to protest organisers. The investment plan was approved by the regional environmental inspectorate in Stara Zagora in January.
Kastamonu Entegre has plants in six countries - Turkey, Romania, Bulgaria, Bosnia and Herzegovina, Russia, and Italy. The company produces raw and melamine coated particle boards, glossy panels, medium-density fibreboard, laminate flooring, tops, door panels and products for the needs of the furniture, decoration and construction sectors.
(1 euro = 1.95583 levs)