A total of 120 mln leva will be invested in Lead and Zinc Complex of Kardjali, the Standard daily reported. The investments will be made in the construction and upgrade of the production facilities, which will be carried out in three stages.

Upon the completion of the project the company will meet even the strictest environmental requirements. A contract worth 4 mln leva has already been signed with local company Ustra-Stroy for the modernization of the zinc producing facility of the plant. The repair works at the facilities for oxidative roasting of zinc concentrates and wet casting will be launched subsequently.

Thus, Lead and Zinc Complex will have the most modern plant in Europe, according to its owner Valentin Zahariev. Zahariev acquired the company on the Bulgarian Stock Exchange in 2005 through his company Intertrust. The deal was valued at 25.9 mln leva. Lead and Zinc was sold by Economic and Investment bank and Kardjali Invest.

The bank funded the privatization of the plant by a management-employee company in 1999 and subsequently acquired it.