SOFIA (Reuters) - Amilum Bulgaria, owned by U.S. agribusiness group Archer Daniels Midland Co, on Friday began the construction of a new corn processing facility in the northeastern town of Razgrad, aiming to double its production capacity.
The company said it would invest more than 200 million levs ($123.41 million) and create 300 new jobs as the expansion would allow Amilum to process 900,000 tonnes of corn annually.
It said that most of the production, including corn starch, glucose, fructose and other products, would be exported to international markets which will have a significant positive result for the Balkan country’s trade balance.
Amilum also plans to construct new facilities to produce ethanol, using residual products from the manufacture of sweeteners in an attempt to improve energy efficiency.
($1 = 1.6206 leva)
Reporting by Angel Krasimirov. Editing by Jane Merriman