July 2 (SeeNews) - Trakya Glass Bulgaria, a unit of Turkey's Sisecam, has finalised a 42 million euro ($47.4 million) overhaul of the flat glass furnace at its plant in Targovishte, Bulgaria's ministry of economy said on Tuesday.
The new production facility is among the three largest of its kind in the world, economy minister Emil Karanikolov said at the inauguration ceremony, according to a press release issued by the ministry.
In July 2015, the International Finance Corporation (IFC), a member of the World Bank Group, said it is providing $75 million in long-term financing to Trakya Cam, another unit of Sisecam, and to its subsidiary Trakya Glass Bulgaria to boost energy efficiency investments and help mitigate climate change.
Trakya Glass Bulgaria was founded in 2003 in Targovishte, in northeastern Bulgaria. It is specialised in the production of flat glass and glassware.
The Sisecam Group owns several glass and chemicals companies in Turkey, Bulgaria, Romania and Bosnia and Herzegovina.
($ = 0.88510 euro)