Solvay to raise capacity of Bulgaria soda ash JV

22 June 2007 08:49  [Source: ICIS news]

SINGAPORE (ICIS news)--Solvay said on Friday its Bulgarian soda ash joint venture plans to expand the production capacity of its plant by 25% to 1.5m tonnes/year to meet growing demand in the Balkans, the Community of Independent States (CIS) and the Middle East.

The Devnya, Bulgaria site, with an initial capacity of 1.2m tonnes/year, will implement the industrial production process developed by Belgium-based chemicals company Solvay, it said in a statement.

This capacity increase, which is part of an investment programme of about Bulgarian lev (Lv) 100m ($68.5m, €51.0m) over three years, includes a new line of dense soda ash aimed at supplying clients in the glass industry, said Solvay.

The plant is expected to start operations in 2008.

The joint venture, also known as Solvay Sodi, had recently decided to invest Lv140m to upgrade the site’s power supply with a boiler also scheduled to start up in 2008.

Meanwhile, the company also marked its 10th anniversary and full privatisation on Friday.

The Solvay group, its partner Sisecam, and the European Bank for Reconstruction and Development (EBRD) acquired a controlling stake in the state-owned Sodi in 1997.

Solvay today owns 75% of Solvay Sodi and Istanbul-headquartered glass and chemicals manufacturer Sisecam holds the remaining stake.

($1 = Lv1.46, €1 = Lv1.96)

ICIS Copyright © Reed Business Information 2009

Author: Jeanne Lim
+65 6780 4359

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