CEO Klaus Sauter stated these investment plans at a meeting with Economy and Energy Minister Peter Dimitrov on Monday.
The company is Europe's largest biofuel manufacturer, it said in a press release. Since it is looking for a site for the plant, Dimitrov suggested the Varna region.
Ideally, the plant would be near the port. It will make biodiesel and bioethanol and may aspire to becoming a First Class Investor in Bulgaria. Its first bioethanol maker, Evroetil based in Alfatar (Northeastern Bulgaria), is the German company's partner.
Verbio has several plants for biodiesel and bioethanol in Germany, and also works in renewable energy sources.
Evroetil is planning to expand its bioethanol plant near Alfatar. Its current capacity is 10 million litres a year, and the target is 40 million litres.