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Sark Bulgaria investing 8.7 mln euro in copper wire plant

Sark Bulgaria investing 8.7 mln euro in copper wire plant Ministry of Economy / All rights reserved.

SOFIA (Bulgaria), September 11 (SeeNews) - Copper products manufacturer Sark Bulgaria is investing 17 million levs ($10.1 million/8.7 million euro) in the construction of a plant for production of copper wire, the ministry of economy said on Tuesday.

The plant will spread on 69,000 sq. m. and is expected to become operational within 5 years, the ministry said in a statement.

The facility, located in the city of Shumen, in northeastern Bulgaria, will mainly produce copper cables for the aviation and automotive industries.

The investment is expected to create 40 jobs.

Sark Bulgaria generated revenue of 3.2 million levs in 2017 and ended the year with a slim profit of 4,000 levs.

(1 euro = 1.95583 levs)

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