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Dec 23, 2022 13:07 EEST
December 23 (SeeNews) - Bulgarian bicycle manufacturer E-Velox was granted 1.5 million levs (813,542/766,937 euro) by the ministry of innovation for the construction of a road that would serve the company's new factory for electric bikes near the country's second-largest city of Plovdiv, the ministry said.
E-Velox, part of bike manufacturing group Leader 96, will invest 50 million levs in the plant, creating 330 jobs, the ministry said in a statement on Thursday.
The new plant will have production capacity of some 300,000 bikes per year. It is located in Kuklen industrial zone, part of Trakia Еconomic Zone (TEZ).
In October, TEZ CEO Katya Staykova first revealed the value of the investment project in a telephone interview with SeeNews. The construction of the plant is nearly completed, with the investor currently installing the equipment. The factory is expected to start operations in early 2023.
(1 euro = 1.95583 levs)
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