“Siven Bulgaria” Ltd. signed for grants under the operational program “Competitiveness and Innovation”

On 20/06/2016, the “Siven Bulgaria” Ltd. signed Contract BG16RFOP002-2.001-0574-ML1 for grants under the operational program “Competitiveness and Innovation” procedure BG16RFOP002-2.001 “Improving production capacity in SMEs” Priority Axis 2: “Entrepreneurship and capacity for growth of SMEs’ Investment priority 2.2” capacity growth of SMEs.

Project Title: “Investment in new equipment for sustainable growth” Siven Bulgaria “OOD

The deadline for execution of the contract is seven months, the project was launched on 06.20.2016, and the ending 12/01/2017, the

The overall objective of the project proposal is to increase the competitive advantages of “Siven Bulgaria” OOD, through the realization of investments in modern technologies and upgrade leading to increased production capacity of the company. Specific project objectives include: • Introduction of new technological solutions leading to improved resource efficiency and effectiveness in the production process; • Reduce the duration of production per unit of output by renovation of the machinery of the company; • Realization of investments for modernization and renewal of production equipment as a factor to optimize company performance and increase production capacity; • Automation of production activities and operations as a result of the purchase of new technological equipment; • Increasing the export potential of the company as a result of purchased and put into operation new production equipment; • Streamline and automate operations “sewing” stretch by purchasing and commissioning of new technological equipment; • Diversification of production through the introduction of equipment for three new products – socks, football socks partial plush and wedges for cycling;

The total budget of the project is worth 452 165.00 lev., As a contribution of the European Regional Development Fund and national co-financing amounting to 316 515.50lv.