April 13 (SeeNews) - Bulgarian malt producer Malteries Soufflet Bulgarie, part of French agricultural group InVivo, will invest 56 million euro ($61.2 million) in the construction of a new malt plant, doubling its production capacity, the economy ministry in Sofia said on Thursday.
The plant, located in the city of Pleven, will increase the company's production capacity to 60,000 tonnes of malt per year, the ministry said in a press release.
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The increase will help the company fully meet the demand for malt from Bulgarian breweries and will create opportunities to boost exports to neighbouring countries, the company said.
Malteries Soufflet Bulgarie has an annual turnover of some 25 million levs and employs 45 people at the Pleven plant.
InVivo Group is one of the world's leading malt producers, with more than 92 locations in 38 countries. The company's malt unit, Malteries Soufflet, operates in 12 countries, including its Bulgarian plants in Pleven and Haskovo.
($1 = 0.9156 euro)