The Investments Agency with the Bulgarian Ministry of Economy and Energetics yesterday issued a Class A investment certificate to Hiitset EOOD, a 100%-controlled subsidiary of Billboard Jsc (

) , the company told Profit.bg.

The certificate is awarded for its project for the construction of a new printing factory in the town of Kostinbrod. The paper is valid until July 1,2011.

The certificate entitles its holder to certain opportunities under art. 21, par. 22A of the Law for Encouragement of Investments.

In an interview for Profit.bg at the end of May, Kalin Genchev, chairman of the Board of Directors, said the company has acquired plots in the area of Kostinbrod, which it intends to consolidate into one parcel, suitable for the construction of a new printing factory. The company's objective this year will be to prepare all necessary legal work, make plans for the infrastructure and take all other preliminary actions before the start of the actual construction works.

Billboard will consolidate a total of 50 decares of land in order to to build a 28,000 sqm factory, including warehouses, administrative buildings, parkings etc.

Billboard established the limited liability company Hiitset for the purpose of fulfilling this project.

Billboard shares rose 0.91% today to an average price of 11.04 leva.