Bulgaria : German investor opens a new factory

Another investment of large producer of auto parts has already been secured - Nexans Autoelectric German will open a factory for cable equipment in Pleven. The company is part of the French group Nexans, and the investment in Bulgaria will be made by registered subsidiary Elektrokabel Bulgaria. The plant is planned to become operational by the end of 2014, InvestBulgaria Agency announced.

Construction of new production facilities began after 18 months of active support by the Agency to conclude the necessary contracts. Work on them was completed in late 2013 and construction could begin as early as this spring.

Plans are to build a plant area of 5,000 sq.m., in which will be invested several million EUR, the Agency reported without specifying the amount. The new production will run in several stages, as at full capacity it will employ 600 employees in production, administration, logistics and quality control. The original plan of the German company was ambitious - 2000 employees and a plant of 15 thousand sq.m.

Nexans Autoelectric opted for Pleven after exploring investment opportunities in several countries of Eastern Europe. Among the decisive factors for the choice of location were the best infrastructure, the quality of the workforce, a stable currency and Bulgaria's membership in the EU.

"When choosing the location we spent the time necessary for an in-depth analysis and we're confident that by the end of 2014 we will be able to supply our customers with high quality products from the plant in Bulgaria," said project manager Michael Krupp .

Source : capital.bg