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Nov 06, 2007 18:32 EEST
November 6 (SeeNews) - Japanese car parts manufacturer Yazaki Corporation plans to complete a 20 million euro ($29.1 million) investment in an auto wiring systems plant in Bulgaria in two years, the Bulgarian Foreign Ministry said on Tuesday.
"The plant will be launched into operation in 2009," the ministry said in a statement after a meeting between Foreign Minister Ivaylo Kalfin and Japanese businessmen in Tokyo.
Yazaki officials were not immediately available for comment.
The company has already started building the unit, which will be located in Yambol in southeastern Bulgaria.
Yazaki Corporation develops and manufactures vehicle power and data solutions and electrical distribution systems and automotive electronics.
Bulgaria is attracting an increasing number of foreign investors, lured by low labour costs in the country and its proximity to key markets in Europe. The country joined the European Union in January.
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