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ELMIB wins HUF 600 million order in Bulgaria

Hungary's ELMIB has won an order worth close to HUF 600 million (€2.15 million) in Bulgaria, where the company will modernize four schools to improve their energy efficiency, cutting energy-related costs by up to one-third, the company told MTI on Wednesday.

The company's subsidiary, ELMIB Bulgaria AD, has signed the agreement on the EU-funded investment with the municipality of the city of Pazardzhik.

The ELMIB group's operations include natural gas and electricity trade, operation of public lighting and modernization of public-lighting systems.

ELMIB was established by the Hungarian Development Bank (MFB) in 2000. The company was sold to its management in 2005.

ELMIB began building its own energy-production capacities in 2008, increasing its revenue to around HUF 21 billion, more than double its level in 2007.

ELMIB has subsidiaries in Croatia, Bulgaria and Romania. (MTI-ECONEWS)