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Bulgaria to Launch 2nd Refinery in Pleven

Monday, Oct 17, 2011

The refinery Plama in Bulgaria's northern city of Pleven is going to reopen in December 2011.

The news was reported by Darik radio, citing Finance Minister, Simeon Djankov, who spoke during a meeting with the company-owner which purchased the refinery last year.

Plama will make mainly lubricants, while fuels will be a side production.

The first facility to start functioning there is a vacuum installation in which BGN 20 M have been invested.

The expected capacity in the first year is 300 000 tons, and plans are for it to reach 700 000 tons. The owner, Angel Stefanov, says Plama will be a brand name.

According to Stefanov, the goal is to reinstate the leadership position of the refinery in the production of light base lubricants in Europe.

Three more installations will open in Plama in the next year. There will be also an industrial park which will attract production from about 50 companies from Europe and Asia. The refinery will provide about 500-600 job openings.

Djankov applauded the owners for their effort to reopen the facility and promised State help. He said the moment to launch production in Pleven was right because many refineries on the Balkans either stopped or drastically reduced production

Source: novinite.com