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A Steed model pick-up, which is part of the test produce of the Litex and Great Wall Co plant in Bulgaria's Lovech displayed before journalists inside the factory. Photo by Litex Motors
Bulgarian company Litex Motors and its Chinese partner Great Wall Motors plan to produce 50 000 cars per year within five years, announced Anton Dontchev, Litex Motors' representative in China, at the Bulgaria: Business UP conference.
"Our talks for partnership with Great Wall Motors started in November 2009, and we are very proud that exactly three years later the factory started manufacturing in Bulgaria. Our partner Great Wall Motors is the largest private Chinese car producers," Dontchev revealed.
"What we are most proud of are the people working in our plant near the Northern Bulgarian city of Lovech. We currently employ 200 people, and hope to reach 1000 employees after expanding, and these are highly qualified laborers. In fact, our main argument before our Chinese partners was not the cheap labor cost in Bulgaria but the high skills and efficiency of the Bulgarian workers. The experts that we have hired as consultants, and each of whom has some 20-30 years of experience with Nissan, Mann, Fiat, state that these are some of the best people that they have ever worked with," explained Litex Motors' representative in China, who is credited with bringing Great Wall's car manufacturing investment to Bulgaria.
Dontchev did stress that the car manufacturing plant in the village of Bahovitsa near Bulgaria's Lovech is a pilot project designed to convince the Chinese entrepreneurs that such an investment directed at the wider EU market is possible in Bulgaria.
"The produce of the Lovech plant is already on the market in Bulgaria, Macedonia, Albania, and Montenegro. We also have other projects, a project for a bus manufacturing plant, which is in an advanced phase, we hope to have specific results there as well by the end of 2012," the Litex Motors executive revealed.
"All of that is good news for the Bulgarian economy," Dontchev concluded, stating that Litex and Great Wall Motors have already started the second phase of the construction of the plant near Lovech, after in February 2012 the Litex Motors plant successfully completed Great Wall's quality audit, as is also advancing in the creation of the bus manufacturing plant.
The First International Investment Conference "Bulgaria: Business Up" started in the Bulgarian capital Sofia on Friday.
"Bulgaria: Business UP" is a new initiative designed to analyze and promote Bulgaria's advantages as a foreign investment destination.
The goal of the "Bulgaria: Business UP" investment conference is to present to the international business community the highly favorable investment climate in Bulgaria as well as the variety of opportunities for successful and sustainable business that the country has to offer.
"Bulgaria: Business UP" is organized by Novinite.com (Sofia News Agency), the largest Bularian English-language media, and Novinite.bg, a Bulgarian-language news website, together with the InvestBulgaria Agency.
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