The Turkish company Sisecam is going to construct factories for float glass and mirrors in the town of Targovishte, Bulgaria. This is provided for in the approved by the government draft of Annex 1 to the agreement between Bulgaria and Trakya Glass Bulgaria on the implementation of a priority investment project. The agreement was signed on 9 April 2004. Trakya Glass Bulgaria is a subsidiary of the Turkish holding Sisecam.
In early July 2004, Prime Minister Simeon Saxe-Coburg and his Turkish counterpart Recep Tayyip Erdogan launched the project of Sisecam in Targovishte. The company starts the construction of the first conveyor line for the production of sheet glass in the Balkans. The investment project amounts to USD 160 m. The construction of the plant will result in the opening of over 700 new jobs, and the district center will become a leader in the region in terms of the production of sheet glass. 85% of the production is expected to be exported to EU member states. Prime Minister Simeon Saxe-Coburg supervised the progress of the construction works, when he visited Targovishte district in early June.
After the signing of the annex to the agreement, the total investment of the Turkish company in Bulgaria will reach USD 220 m. The construction of the two factories will enable the creation of new jobs in Targovishte district. The two new factories are expected to be launched in the second quarter of 2006.