January 13 (SeeNews) - Bulgarian sanitary ware retailer Ceramic Group intends to invest over 11 million levs ($6.3 million/5.6 million euro) this year in the opening of two new showrooms and the construction of a manufacturing plant for sanitary furniture, local media reported.
Ceramic Group will invest 5 million levs in the production plant, which is expected to start operations in the first half of 2021 and employ around 80 people, business news outlet Capital.bg reported on Sunday.
The plant will have an annual capacity of some 50,000 products.
The two new showrooms expected to be opened this year will be located in Sofia and Ruse and will operate under the company's Alati brand of stores.
Ceramic Group estimates that its 2019 turnover will be around 10% higher year-on-year at 38 million levs. The company eyes turnover of some 41 million levs in 2020.
In the medium term, Ceramic Group aims to expand the number of stores under its Alati brand and enter all large cities in the country, Capital.bg quoted the company's owner Ruslan Stefanov as saying.
(1 euro = 1.95583 levs)