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Refinery for bio-diesel worth 60 mln. Euros to be constructed in Vidin
The serious investment process in the region of Vidin (North-Western Bulgaria) is continuing. After the EU funded 240 mln. Euros investment in the second Danube bridge connecting Vidin with the Romanian town of Calafat (construction to start in year 2007) came the news from EcoPetroleum, one of the biggest Bulgarian companies dealing with fuels:
A bio-diesel refinery will be constructed in Vidin. The municipal council decided to substitute private municipal land plots for a property owned by EcoPetroleum.
This decision puts a start to a Bulgarian-German project for the construction of a bio-iesel factory in the town. This is the biggest investment in Vidin for the last years and is a good signal for the future investors, announced Ivan Tsenov the Mayor of Vidin.
The company will invest 60 million euro for the construction of a refinery for oil and bio-diesel from Rape-seed, which will be able to produce 150 tons per year, announced their owners in December 2005, when the project was presented before the local authorities.
The refinery will be placed in the South Industrial Zone, right on the bank of the Danube River. The production of bio-diesel is environment friendly and will need huge quantities of rape-seed and other oil contented crops, which will also stimulate the local agriculture and willl influence positively the employment in the region.
Mariana Evtimova- Misheva from the Technical University made a study which shows that 57 thousand tons of rape seed can be produced in the region. According to her analysis, 67.2 thousand tons of rape seed will be needed for the production of bio-fuels.
NB: Vidin is located on the North-West of Bulgaria on 2 borders with Romania and Serbia, some 220 km from the capital Sofia.
Currently the region presents some of the best value property prices and great economical potential. Massive investments mainly in infrastructure are planned for the next few years.
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