January 4 (SeeNews) - Bulgarian state-owned dairy producer LB Bulgaricum plans to invest at least 5 million levs ($2.7 million/2.55 million euro) in 2023 to expand its market presence, it said.
The company plans to open between 6 and 20 new stores - in Sofia, Vidin, Blagoevgrad and large municipal centres across the country as well as expand its production base in Vidin, according to an interview of LB Bulgaricum CEO Nikolai Marinov for state news agency BTA published on the company's website on Tuesday.
LB Bulgaricum, which exports 60% of its products, expects an annual revenue increase of between half a million and one million levs in 2022. Licences for making Bulgarian yoghurt granted to Japanese company Meiji are expected to contribute annual revenue of 6 million levs over the contract's term to 2030.
(1 euro = 1.95583 levs)