Swiss concern ABB gave the go-ahead to a project to build a $20 million (12.92 million euro) plant near Bulgarias second largest city Plovdiv, the concern said in a May 15 statement.
The plant will become an internal supplier for ABB, which will manufacture automated components in other factories of the concern.
The plant will spread on 35 000 sq m. Construction works are slated to start in October this year and to be completed by summer 2009.
The new plant is expected to create 500 jobs by 2011. The project is expected to support ABBs growth in the automated products segment, as well as expand its scope of low-voltage products.
ABB is leader in the manufacture of energy and automated equipment for the needs of the electricity distribution network and industry. The concern is present in more than 100 countries and has 110 000 people on the payroll. The concern is the main shareholder of Sevlievo-based ABB Avanguard AD.
