Sofia Med

completed

The proposed project (the project) is to revamp a nearly idle and ill-maintained copper processing facility, Sofia Med (formerly KOCM), located in Sofia, Bulgaria, and to transform it into a modern, cost efficient plant. The project will be implemented by Halcor S.A. ("Halcor", or the "Sponsor"), a big Greek manufacturer of copper and copper alloy products with more than 50 years industry experience. Halcor will refurbish the plant, inject necessary capital to restart production, and improve production methods to facilitate the transition to high value added products. Under Halcor’s ownership and management, the plant has already started producing small quantities of brass tubes and bars. At project completion, the company will be manufacturing 120,000tpy of copper and brass bars, copper and brass sheets and strips, brass tubes, copper alloy flats, and copper flat bars.The project will create new employment in Bulgaria, both directly and indirectly, an important impact in a period of high unemployment. Currently there are 200 employees in the plant. It is expected that at the time of the project completion, direct employment will be provided to about 500 people. Additional employment is expected to be generated in the supply stream and in ancillary activities.