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First Bulgarian Car Factory to Be Built Near Town of Lovech
The construction of a car factory is on its way in the village of Bahovitsa, near the town of Lovech. The first sod was turned by Bulgaria’s Prime Minister Sergey Stanishev, the government’s press office announced.
One of the largest Chinese companies Great Wall together with Litex Motors will build a production base for Bulgarian cars. The investment is worth 80 million Euro as 1,000 new jobs will be created for the realization of the project.
The government supported the project after in February 2009 the InvestBulgaria Agency signed a certificate for a class-A investor as a party in the Bulgarian-Chinese investment.
The production of the first lot of SUVs with the name Hover is expected to start at the end of 2010 and the number of people working in the plant is expected to be almost 3,000.
According to Prime Minister Stanishev in the conditions of a global economic crisis clever developers make long-term investments because at such times every position and capital investment counts. They will make the municipality of Lovech and the whole region competitive on the car-making market, he added.
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