Bulgarian Cement Plant Devnya Gets Quartz Sand Concession

One of the major Bulgarian cement producers Devnya Cement has been granted a 35-year concession for extracting quartz sand from the Cheirite deposit near Varna.

The Bulgarian Cabinet granted Wednesday the concession to Devnya Cement after the company conducted the search and exploration of the quartz sand deposit located in AvrenMunicipality close to the Black Sea coast.

Devnya Cement plans to invest BGN 787 000 for the exploitation of the deposit in the first five years. It plans to extract about 80 000 metric tons of sand per year.

The Bulgarian government is going to receive BGN 1.23 M per year as part of the concession deal; 30% of the revenues will go to the AvrenMunicipality.

From China Cement (2010-4-29)