The management of Ukrainian company Lviv Bus Plant (LAZ) has decided to start making buses and trolleybuses in Bulgaria's northern city of Gabrovo.

The announcement was made Thursday during the official presentation of the production of LAZ in Gabrovo.

"Our aim is to offer high-quality transportation services all over the world. Today we have the chance to set foot on new markets, while Gabrovo has the opportunity to host the production of buses carrying the sign "Made in Bulgaria"," said Vladislav Spektor, Marketing Director of LAZ.

He made clear that the planning of the investment would start at the beginning of 2013 and the concrete business plan would be clear by the end of summer.

Spektor further specified that the Gabrovo-based plant would create over 600 jobs with its annual capacity of 500-800 buses.

Deputy Mayor of Gabrovo Kliment Kunev informed about talks between Tanya Hristova, Mayor of Gabrovo, and LAZ Holding head Igor Churkin during which the two sides agreed to start the production.

Kunev boasted about Gabrovo's traditions in machine building and its professional schools, adding that they created the preconditions for investment success.

He said that the plant in Gabrovo could be expected to make the first bus by the summer of next year.

The presentation of LAZ was also attended by Ukraine's ambassador to Bulgaria H.E. Mikola Baltajy, according to the press office of the Gabrovo Municipality.