July 3 (SeeNews) - Germany's Lindner Group will invest 10 million euro ($11.2 million) in a new plant for building facade elements in the Bulgarian town of Ruse, on the Danube, local media reported.
The production facility, which is planned to spread on 67,000 sq. m., will create some 200 jobs. The company did not disclose details about the timeframe of the construction works, business news outlet Capital reported last week.
According to Lindner Group representatives, the company picked Ruse as the site of its investment because of its strategic location on the Danube and its proximity to neighbouring Romania.
Lindner Group has established a subsidiary for the purposes of the new investment - Lindner Building Envelope Engineering (Lindner BEE).
This is the fifth Bulgarian subsidiary of the group, the other four being management company Lindner Immobilien Management, construction company Lindner Bulgaria, Lindner Real Estate BG and Lindner Facility Management.
Last week Lindner Group launched the construction of a 300 million levs residential compound near Sofia, called Residential Park Lozen. Lindner's other projects in the country also include Business Park Sofia and Residential Park Sofia.
(1 euro =1.95583 levs)