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SOFIA (Bulgaria), December 12 (SeeNews) - Construction company Cordeel Bulgaria, the local unit of Belgium-based Cordeel Group, said on Thursday it has started the construction of a 52 million levs ($29.6 million/26.5 million euro) office and logistics complex in Sofia.
The project of the type "Build to Suit and Lease" will be implemented in line with the requirements of the future tenant - Bulgarian consumer goods distribution and logistics company Orbico Bulgaria, part of Croatia's Orbico Group, Cordeel Bulgaria said in a statement.
The facility will spread on 57,000 sq m, including 32,000 sq m of storage space, 4,500 sq m of office space and the respective infrastructure. The office and logistics centre will create 500 jobs.
The storage and office spaces will be built within a period of 18 months, the company said.
"We are witnessing the biggest Croatian investment in Bulgaria," Croatia's ambassador to Bulgaria, Jasna Ognjanovac, said during the groundbreaking ceremony.
This is the biggest logistics centre of Orbico Group in Bulgaria and it holds great importance for the business of Orbico's local unit, said Branko Roglic, board chairman at Orbico Bulgaria.
The new management of Cordeel Bulgaria is planning the implementation of projects of similar scope in the future, the company said in its statement.
Cordeel Group has been present in Bulgaria for 20 years to date. The group's portfolio in Bulgaria consists of 85 successfully implemented projects, including The Mall and Infinity Tower, both located in Sofia.
(1 euro = 1.95583 levs)