Bulgaria: Italcementi has launched its upgraded cement plant in Bulgaria, which is operated by its subsidiary, Devnya Cement. The upgrades will allow Italcementi to meet domestic demand and export demand from Eastern Europe.
"The new plant will enable us to respond to demand from the domestic market and from the neighbouring areas in Eastern Europe," said Italcementi Group chief executive officer Carlo Pesenti in a statement.
The revamp of the cement plant, located near the port of Varna in eastern Bulgaria, began in April 2012 and invovled an overall investment of more than Euro160m. Once the current test and commissioning stage has been completed on all the systems, the cement plant will be fully operational in early 2015. The new facility can produce around 4000t/day of clinker and about 1.5Mt/yr of cement.
The completion of the project will allow the group to consolidate its operations in Bulgaria, where it also runs the Vulkan grinding center in Dimitrovgrad, and boost its export capacity thanks to its proximity to the port of Varna West, which gives access to all the countries on the Black Sea and on the eastern part of the Mediterranean Sea.
The Italcementi Group entered the Bulgarian market in 1998 with the acquisition of Devnya Cement, followed in 1999 by the acquisition of Vulkan Cement. In 2013, the Group reported revenue of Euro59m in Bulgaria.
