Varna Bulgaria » Investments in Varna

InvestBulgaria met present and potential investors in Varna region

admin — Fri, 18 Oct 2013 08:02:04 +0000

On 17th October, 2013 in Varna a roundtable with the present and potential investors in the region was held organized by InvestBulgaria Agency (IBA). The executive director of the agency Mr. Svetoslav Mladenov, representatives of the business in Varna province, government and local authorities discussed the business climate and opportunities for investments in the region and steps should be taken for attracting more investors and new to be created in the region. Their project “Promoting the advantages of investing in Bulgaria” was presented in the meeting, which aim is to present the opportunities for business and investments in Bulgaria worldwide.

The IBA`s Executive Director Mr. Svetoslav Mladenov emphasized that Varna is one of the main investment regions in Bulgaria. “The city has great potential in attracting investments. That is why, it is important to speak more clearly to the business representatives and the dialogue between the business and administration should be more effective so as the business to be supported and facilitated by the state authorities”, Mr. Mladenov pointed out.

Varna Power Plant invests a EUR 100 M in project for Sulfur Purification Facilities

admin — Fri, 14 Dec 2012 09:27:40 +0000

Czech power utility CEZ, owner of the Varna Thermal Power Plant, has informed about the launch of a project for reducing sulphur and nitrogen oxides emissions and dust particles at three units of the plant. The project will render the three units of the TPP compatible with EU environmental emission standards and will extend their life until 2023.

The investment in the Varna Thermal Power Plant, situated in Bulgaria’s Black Sea city of Varna, amounts to EUR 100 M. The designing and the construction of the purification installations will begin in 2013 and is to be completed by end-2015, according to reports of investor.bg.

The Varna TPP is part of the so-called “cold reserve” of Bulgaria’s energy system. The Varna TPP is connected to the national grid at the request of the Electricity System Operator (ESO) to prevent power shortages during peak loads.

In 2011, the generating units of the Varna-based TPP were used on 41 occasions, according to a media statement of CEZ. Air pollution prevention measures will be implemented at units 4 to 6 of the Varna TPP.

While the emission reduction technologies are being installed, the Varna-based TPP will continue to be part of the reserve generating capacity and units 1 to 3 will supply electricity in case of necessity. Units 1 to 3 of the “Varna” TPP will most likely be dismantled after 2013.

The Varna TPP is currently the second largest thermal power plant in Bulgaria and on the Balkan Peninsula. The condensation-type TPP has a total installed capacity of 1260 MWh, including six mono blocks of 210 MWh each.

Orchid Gardens Varna – multi-use retail, offices and residential complex receives final permits

admin — Thu, 06 Dec 2012 09:30:23 +0000

Bulgarian-focused property developer and investor Orchid has announced the formal opening of Orchid Gardens Varna, its multi-use retail, offices and residential complex, having received its final permits.

Orchid says this follows frustrating construction delays due to issues with the contractor.

Orchid Gardens Varna is one of the largest multi-use complexes ever built in Varna; the project has 42,000 sq.m of built area with 16 floors above ground and 3 floors below ground.

It combines two levels of retail space (7,700 sqm), four levels of office space with 88 units (9,500 sqm), 10 levels of luxury apartments with 107 apartments (12,100 sqm) (of which 10 have already been sold) and 13,270 sqm of underground parking.

Orchid Developments Group Ltd. engages in the real estate development and hotel operations in Bulgaria. The company involves in the development and leasing of office space, shops, and entertainment and leisure complexes; and the development and sale of apartment units. It also engages in commercial, financial, lending, borrowing, trading, sale, and purchase of real estate; and provides tourist services. Orchid Developments Group Ltd. was incorporated in 2004 and is based in Sofia, Bulgaria.