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BG Investments

Bulgarian State-Owned Arms Trader Kintex Net Profit Grew to $12.4 mln in 2018

SOFIA, Bulgaria (BulgarianMilitary.com) - Bulgarian state-owned arms trader Kintex said that its net profit grew to 21.6 million levs (US$12.4 million/11.0 million euro) in 2018 from US$9,4 mln. the year before, despite a drop in revenue, learned bulgarianMilitary.com, quoting SeeNews. The company's total revenue lost 23% to US$147 mln. last

Bulgaria’s Government Approves BGN 82.51 Million to Repair the Su-25s

SOFIA, Bulgaria, (BulgarianMilitary.com) – At its meeting held on 27the February, the Bulgarian government has approved a report by the Minister of Defence on the payment of up to BGN 82.51 million (without VAT) for the project related to the overhaul of the Bulgaria’s Su-25 fighter jets. The announcement of the Council of Ministers notifies that

Over BGN 113 Million Extra Funding Allocated for the Needs of the Bulgarian Army

SOFIA, Bulgaria (BulgarianMilitary.com) - At the request of Bulgaria’s Prime Minister Boyko Borisov, today (12th December), at its meeting the Bulgarian government voted to direct an extra BGN 113.6 million toward the needs of the Bulgarian Army, learned BulgarianMilitary.com. Today's meeting of the Council of Ministers, which was attended by

In 2017 Bulgaria Exported 20% More Arms and Munitions

PANAGYURISHTE, Bulgaria (BulgarianMilitary.com) - In Bulgaria’s Parliament, it is about to be considered and adopted, the report of the Interministerial Commission for Export Control and Non-Proliferation of Weapons of Mass Destruction, which makes it clear that the native military industry has exported arms and munitions in 2017 with 20% more than…

Bulgaria Will Pay About EUR 5 Million for Repair of Russian Т-72 Tanks

SOFIA, Bulgaria (BulgarianMilitary.com), 28 August 2018, Author: Boyko Nikolov, Photo credit: U.S. Army Photo 13 Т-72 tanks and 60 sights for them will be repaired in the next five years, and the repair will cost about EUR 5 million, decided the Ministry of Defence, learned BulgarianMilitary.com, quoting Dnevnik. The Bulgarian country will…

Debts of Avionams at about BGN 15 Million Are on Sale

SOFIA, Bulgaria (BulgarianMilitary.com), 23 August 2018, Editor: Bm Team, Photo credit: en.wikipedia.org/Bulgarian Air Force Mi-17 Non-serviced credit debts at the amount of about BGN 15 million of Avionams will be put on 24 August (Friday) on sale by auction with secret bidding by the assignees of the Corporate Commercial Bank AD which went…

About € 4 Million Is Invested by Opticoelectron in 2017

PANAGYURISHTE, Bulgaria (BulgarianMilitary.com), June 29, 2018, Author: Boyko Nikolov, Picture: Hristo Elkin Interesting indices and positive attitudes in the investment policy showed the general annual report of the companies in the structure of Opticoelectron Group JSCo during the last year. About € 4 million has been invested during the 12…

The New Patrol Boats Project Is Restarted and Is Worth about BGN 1 Billion

SOFIA, Bulgaria (BulgarianMilitary.com), June 28, 2018, Author: BM Team, Photo credit: Pan.bg About BGN 1 billion (BGN 984 million) is ready to be granted by the Bulgarian Government for purchase/building of two new patrol boats, needed for the needs of the Bulgarian Navy, learned BulgarianMilitary.com In this way the three major projects…

Optix Has Sold Part of Its Assets to American Optics

PANAGYURISHTE (Bulgaria), March 20, 2018, Author: Galina Zdravkova (Bm), Photo by Bm In the end of 2017, the Bulgarian company OPTIX JSC (based in the town of Panagyurishte) sold part of its assets to the Canadian company American Optics Inc. – a manufacturer and distributor of rigid and flexible endoscope optics, reported the Bulgarian weekly…

Bulgaria has decided to repair the MiGs for € 40 mln.

(SOFIA) (Photo by Airgroup 2000) - The Public Procurement Agency of the Republic of Bulgaria has published a tender for just over 40 million euros for the repair of the 15 MiG-29, reports the agency's website. The contract must be for 4 years and the repair itself should ensure the airworthiness of the aircraft. We remind you that only two…

Bulgaria Plans to Spend 2.25 bln Euro on Defence, Security in 2018

Bulgaria plans to spend 4.4 billion levs ($2.64 billion/2.25 billion euro) on defence and security next year, figures from the 2018 draft budget proposed by the finance ministry showed on Monday. The planned expenditure represents 4.2% of the gross domestic product (GDP) projected for 2018, the ministry said in a statement. Budget draft 2018…

Bulgaria 2016 military goods exports at 1.015 billion euro

The Parliament in Sofia passed the 2016 Report of the Interdepartmental Commission for Export Control and Nonproliferation of Weapons for Mass Destruction at the Minister of Economy. Last year the Commission issued 595 permissions/certificates for export and transfer of goods related to defense from the territory of the Republic of…

Export of Bulgarian Weapons Increased by Almost 60% After Conflicts in the Middle East

Conflicts in the Middle East have increased the export of Bulgarian weapons by almost 60% in 2016, reaching record levels not seen since the end of Communism. According to official data, our country has exported goods worth more than € 1 billion in 2016, compared with € 642 million in 2015 and € 402 million in 2014. Major buyers of Bulgarian…

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