Bulgarian zinc producer Harmonee 2012 is investing 45.6 million levs ($27.4 million/23.3 million euro) in a zinc smelter in the town of Kardzhali, the economy ministry said on Tuesday.

The investment will create 54 jobs, the economy ministry said in a statement upon awarding the company a Class A investment certificate for the project.

Holders of Class A investment certificates in Bulgaria benefit from shorter terms for administrative services and financial aid for construction of infrastructure elements.

Harmonee 2012 acquired the assets of the former lead-zinc smelter OTZK in Kardzhali in 2012-2013 and committed to modernise its zinc production facilities.