A German Company will Invest 21.5 million BGN in a Factory near Vratsa

Business | January 6, 2019, Sunday // 12:12| Views: | Comments: 0
Bulgaria: A German Company will Invest 21.5 million BGN in a Factory near Vratsa

Minister of Economy Emil Karanikol awarded an investment certificate Class A to "MD Electronic" Ltd. under the Investment Promotion Act (IPA), the Ministry of Economy announced. The amount of the investment amounts to BGN 21.5 million, with 300 new jobs being opened.
 
The investment project envisages the construction of a new production plant in Vratsa, which will consist of production, logistic buildings and offices with a total built-up area of ​​9 950 sq. M. The company will produce cables for data transmission and electronic components, coaxial parts and cables for media and multimedia modules. For the production process, the company will purchase and equip the factory with various manual, semi-automatic and automatic machines.
 
"MD Elektronik" GmbH, Germany, is a leading company in the field of data transfer solutions in the automotive industry. Its products are integrated into more than 170 car models of more than 25 manufacturers. The MD Electronics Group comprises four countries on three continents and has over 5,000 employees.
 
Minister Karanikolov stressed that for the period 2014-2018, the certified projects in the automotive sector are 17, totaling BGN 300 million, and about 8 000 new jobs are revealed. "Undoubtedly, automotive production is one of the priority sectors for attracting foreign investment in the country, with great potential for development of exports, employment and regional development. The sector consists f more than 170 companies - international and local companies, manufacturers of parts and components for cars, "explained Karanikolov.

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