Novinite reported that the leading Bulgarian non ferrous metals producer, Lead and Zinc Complex Jsc has received permission for modernization and expansion of its facilities.

LZC has been granted a permit for building a new plant in the southern city of Kardzhali where its manufacturing operations are based. The execution of the projects provides for increasing the zinc production capacity by 40% and reaching the highest zinc mark of 99,995. The new plant is expected to be constructed by the end of 2011. The project also involves modernization of the production with new environment friendly technology which has already been purchased and is worth EUR 40 million.

Mr Dzhevdet Chakurov former environment minister of Bulgaria from the DPS party refused to grant a permit for LZC’s expansion for 3 years.

The majority owner of the LZC Jsc is Intertrust Holding which is owned by the Bulgarian millionaire Mr Valentin Zahariev.

Mr Zahariev said recently that his company would file a suit against the government over the blockage of the LZC investment. He has been quoted by the Dnevnik Daily as saying that the reasons for the delay were probably political.

(Sourced from Novinite.com)