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SOFIA (Bulgaria), April 10 (SeeNews) - Automotive rubber products maker Teklas Bulgaria, a wholly-owned unit of Turkey's Teklas Kaucuk Sanayi ve Ticaret, is investing 22 million levs ($12.7 million/11.2 million euro) in a new manufacturing plant in Vratsa, the economy ministry said on Wednesday.
The investment will create 500 jobs, the economy ministry said in a statement upon awarding Teklas Bulgaria a Class A investment certificate.
Earlier this year, Vratsa mayor Kalin Kamenov said that construction works of the first phase of the project will take six months to complete.
The number of people employed at the plant could double at a later stage, according to Kamenov.
At the time, Kamenov said the investment will exceed 30 million levs.
(1 euro = 1.95583 levs)