A billion investment for battery production is being prepared in the "Thrace Economic Zone", Bulgaria
Source：Bloomberg TV Bulgaria
From：Taiwan Trade Center, Sofia
Update Time：2023/05/13
"Thrace Economic Zone" has already won the trust of investors and the created good economic environment and conditions for climate neutrality attract new companies whose partners are already working there. In accordance with the idea of Europe catching up economically with the USA and Asia, in the next three years the "Thrace Economic Zone" expects to attract large investors, and will also rely on funds under the Recovery and Sustainability Plan for additional development of social infrastructure and science and innovation. This was said by engineer Plamen Panchev, executive director of the "Thrace Economic Zone", on the air of the program "Business Start" with host Hristo Nikolov.
"In the next three years, we will attract billions of investments... The idea is, after Bulgaria and Plovdiv have become noticeable throughout the world in the production of electromobility, we are calmly looking at an investor in the field of batteries, energy storage. We have attracted an investor who will provide the renewable energy that every new investor in the area wants - they make us a mandatory condition for renewable energy at a certain price, and we also offer them biomethane and hydrogen within three years."
The production of batteries will be both for electric cars and for energy storage for other purposes, with the possibility of recycling batteries in the region (in the Plovdiv City Center) being a big advantage, Panchev said and added that it is an international investor with the participation of Asia and Europe.
"We are in serious negotiations with an American company as well."
Commenting on the plan announced on Monday for a new economic zone in Dobroslavtsi, focused on the automotive sector, Panchev said that it is important for the country to have as many such successful initiatives as possible. The lack of such a designated area was due to the way of financing and implementation of similar projects in Bulgaria, he added.
We become much more recognizable when we have more propositions for investors."
Bulgaria is seriously lagging behind in terms of science and innovation, and the lack of well-developed public-private partnership practices does not allow business, municipalities and the state to work together to implement projects that attract more investors with a higher added value, commented Panchev.
"Thrace Economic Zone" has proposals for improving professional education and the creation of personnel and the creation of auxiliary social infrastructure, said Panchev.
Commenting on the criteria for financing under the PVA, Panchev said that they should allow the funds to be used for projects that would attract investors. The scheme for the construction of the supply infrastructure of 100% of grants should be preserved, and it would be good to have such participation in the energy security of the industrial parks, he added.
"If in the last twenty years we have managed to attract more than three billion euros of investment in the industrial zone, now our goal in confirmation of (the idea of) Europe catching up with the USA and Asia for the next five years is to attract three to five billion investments. Here the speed factor and dynamic development is very important."
EU countries should be more flexible with their aid for such large investments, and this is also related to more flexible legislation, Panchev said.
Source: https://www.bloombergtv.bg/a/16-biznes-start/117228-miliardna-investitsiya-za-proizvodstvo-na-baterii-se-podgotvya-v-trakiya-ikonomicheska-zona