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SOFIA (Bulgaria), July 4 (SeeNews) - Belgian electronic components manufacturer Melexis said on Wednesday it has started the construction of a new plant in Bulgaria's capital Sofia, in which it plans to invest a total of 75 million euro ($87.3 million) in the next five years.
Melexis aims to increase the manufacturing space as well as significantly expand the R&D and warehousing facilities, adding a further 15,000 sq m to its 7,500 sq m facility in Bulgaria, the company said in a statement.
By the end of 2018, the company will invest 17 million euro in the new plant. Its workforce is expected to grow from 475 to 575 by the end of 2018, with by a further 300 by the end of 2022.
"We aim to turn our office in Sofia into an even more attractive location for Bulgarian and foreign specialists who choose to live and work here," Sylvain Collot, director of Melexis Bulgaria, said in a statement.
The new plant is expected to be completed in two years.