A silk spinning and processing unit is proposed to be set up in Byala Slatina, a town to the north-west of Bulgaria, at an investment of € 7.5 million.
May 1, 2012 has been fixed as the deadline for conclusion of the first phase of the project, which encompasses a silk drawing capacity, a weaving unit and five production lines. The weaving unit is planned to go operational by September 2012.
The cluster is to be supported by capital investment from Russian and Bulgarian investors. It would accumulate funds for the new facility in Byala Slatina, as also for textile facilities at Haskovo in southern Bulgaria and Rousse on the Danube River.
Presently, the Bulgarian Economy and Energy Ministry partially funds the silk production promotion programme in the country, but the sector's growth, at a later stage, would be backed by sericulture grants from Europe.
The new silk production facility at Byala Slatina along with the silkworm and mulberry tree growing process is expected to generate 4,000 new employment opportunities.
The produce of the new facility would be sold in Europe, where silk fabrics are in great demand.
In 2010, Bulgaria formulated a 10-year strategy aimed at revitalization of silk production in the country and to retain its earlier position of industry leader.
According to the statistics of Bulgarian cluster, during the five-year period ending in 1985, Bulgaria was Europe's topmost raw silk producing country and was ranked fourth across the globe. However, the sector suffered a setback during the subsequent years and would require huge investments for its revival.
Fibre2fashion News Desk - India
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