Bulgaria’s Plovdiv-based non-ferrous smelter KZM is preparing to launch an upgrade of its lead and zinc production, an investment that has been in the planning for two years.

The company will pump a total of EUR 130 million to EUR 150 million in implementing new technologies aimed at curbing its carbon dioxide footprint. The investments will be financed on a EUR 95 million loan to be provided by the European Bank for Reconstruction and Development (EBRD) and UniCredit Bulbank. Pen will be put to paper on September 1.

KZM currently exports the bulk of its produce to neighbouring countries such as Turkey, Greece and Romania as well as Western Europe.

The crisis has delayed its USD 200 million zinc expansion plan to 100,000 tonnes by the end of 2013. KZM, which has around 800 people on the payroll, is currently capable of producing 75,000 tonnes of zinc and 65,000 tonnes of lead.