Balgarianovinite.com MP Yordan Ivanov of the Continue the Change – Democratic Bulgaria parliamentary group on Sunday deplored what he sees as “worryingly scarce publicly available information” about Rheinmetall’s investment in Bulgaria. In a media statement received at BTA, Ivanov criticized Economy and Industry Minister Petar Dilov for refusing to disclose key parameters of the deal, “which raises serious questions about the protection of our national interest”. The statement was published by Democrats for Strong Bulgaria, a member party of the Democratic Bulgaria coalition.
The MP recalled that when answering specific questions raised by him, Dilov had said that the shareholding structure is set at 51/49 in favour of Rheinmetall, and that everything else is a commercial secret. “The state is obliged not only to formulate clearly but also to firmly defend the national interest at every stage of this deal,” Ivanov argued in his statement for the media.
He was referring to a EUR 1 billion project to build a gunpowder and ammunition factory in Karlovo, Central Bulgaria. An agreement to this effect was signed in Sofia on October 28 by Rheinmetall’s CEO Armin Papperger and CEO Division Weapon and Ammunition Roman Kohne and by VMZ ordnance plant Executive Director Ivan Getsov. At the end of October, the Karlovo chapter of the Vazrazhdane party led a protest demanding a public debate on the project, because, the party said, relevant decisions will affect the health, security and future of the region.
In his statement on Sunday, Ivanov acknowledged that the partnership with Rheinmetall is undoubtedly of strategic importance, and the prospect of NATO-related industrial production in Bulgaria is the right direction – but only if Bulgarian interests are guaranteed.
He said that according to public statements, the Bulgarian state is planning an investment of EUR 500 million. However, the exact financial contribution of the German partner is unclear, he added.
Ivanov is concerned about the possibility that, once the war in Ukraine is over, the future plant’s production load may decline. “This could lead to extraordinary personnel expenses that may not be covered by corresponding revenue,” he said, and went on to ask whether the government has “ensured that the German partner will assume its share of the social commitment to the employees”.
“With a shareholding split of 51% to 49%, a key question arises regarding governance: which decisions will be taken by simple majority and which by qualified majority?” the MP said. He also wondered whether there are guarantees for long-term purchase of the plant’s output, and what if it turns out that only Bulgaria is investing in this production.
Ivanov called on the Economy Minister to immediately disclose all information regarding the deal – the stage of negotiations, the agreed parameters, and the commitments undertaken. “The Bulgarian public cannot be kept in the dark when decisions are being made about the most significant defence partnership of our country in decades,” he insisted.
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