The Council of Ministers adopted a Decision to approve the financing of public municipal infrastructure under the Investment Promotion Act (IPA).
The Ministry of Innovation and Growth's budget will provide the Municipality of Burgas with funds up to BGN 3,852,321 (including VAT) for elements of municipal infrastructure.
It is being built in connection with the implementation of the IPA-certified project of "VEMUS INVEST" EOOD and "M KABEL" OOD - "Construction of a production base for cable production in Burgas and expansion of current cable production, by purchasing additional machines and equipment".
The companies' investment in the project amounts to BGN 8 million and the creation of 25 new jobs is planned.
The construction of new and the continuation of existing technical infrastructure will improve the economic development of the region and will have a positive impact on attracting new investments.