Bulgaria has attracted foreign investment of EUR 128.2 M in the first two months of 2015, according to Deputy Economy Minister Daniela Vezieva.

She boasted that foreign investment in 2014 totaled EUR 1.29 B, adding that the Economy Ministry sought to attract investments especially in hi-tech industries and sustainable jobs.

Vezieva awarded a “Class A Investor” certificate to voestalpine VAE Sofia OOD, a major railway component supplier, at a ceremony at the Economy Ministry HQ on Tuesday.

The majority stake in voestalpine VAE Sofia OOD is owned by Austrian voestalpine VAE GmbH, a global leader in the rail infrastructure manufacturing.

A project envisages an expansion of the company’s production and warehouse base in Sofia, according to the press office of the Economy Ministry and news.bg.

The project involves the expansion of the existing production facility and the diversification of the product range with new items, namely rail fishplates.

The investment amounts to over BGN 5 M and envisages the creation of 52 new jobs.

Under the project, a new production and storage facility is to be built on an area of 300 square meters.

After the launch of the new site, the sales revenues of the company are to reach BGN 17.5 – 18 M a year.