June 6 (SeeNews) - Japanese automotive components maker Yazaki Bulgaria plans to invest 30 million euro ($33.2 million) in a new plant, its third in the country, local media reported on Monday.
The new plant which will cover an area of 30,000 sq m near the town of Dimitrovgrad in southeastern Bulgaria, should be operational in two years and will hire more than 3,500, Yazaki's CEO Roma Budriene said, cited by Capital Daily.
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Yazaki Bulgaria has contracted local firm Horizont-Ivanov to purchase the land and to build the plant, which will be leased to the Japan-owned auto parts producer. Horizont-Ivanov will invest 20 million levs in the new factory.
Meanwhile, Yazaki Bulgaria has rented a 6,500 sq m building in Stara Zagora for 27 months, where it will start production for a newly attracted client until the new plant is built, the daily also said.
Yazaki's two operating plants in Bulgaria are located near the towns of Yambol and Sliven, also in the southeast of the country. They have a total staff number of over 5,000. In southeast Europe, Yazaki also operates plants in Romania and Croatia.
($=0.8817 euro)