Yazaki to Invest BGN 45 M in Its 3rd Bulgarian Plant

Business » INDUSTRY | June 22, 2016, Wednesday // 11:19| Views: | Comments: 0
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Bulgaria: Yazaki to Invest BGN 45 M in Its 3rd Bulgarian Plant File photo, BGNES

Japanese car parts manufacturer Yazaki plans to employ some 3 000 people for the factory it is about to begin building in Dimitrovgrad, the head of Bulgaria's investment promotion agency has said.

Construction is expected to start within a month and completed in a year's time, Stamen Yanev, CEO at InvestBulgaria agency, has told Bloomberg.

Details by Yanev come following media reports about Yazaki's plans to set up its third factory in the Southern Bulgarian town.

The projected BGN 45 M (EUR 23 M) investment will add to the EUR 60 M the company has already spent on its two factories now employing 5000 people.

Free transport will be provided to employees living in an area of up to 50 km from the facility.

Bulgaria's exports of spare parts and vehicles have more than doubled over the past ten years, but their levels are still considerebly below those in neighboring Serbia and Romania.

In 2014, they made up 2.53% of all exports of Bulgaria and 14.17% and 13.9% of those of Romania and Serbia, respectively.

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Tags: Yazaki, Stamen Yanev, InvestBulgaria Agency
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