Automotive rubber products manufacturer Teklas Bulgaria, a wholly owned unit of Turkey's Teklas Kauçuk Sanayi ve Ticaret, intends to spend over US$17.4m/EUR15.3m) on a new manufacturing plant in Vratsa, the city mayor said, according to local media reports.
The construction works of the first phase of the project will take six months to complete, Vratsa mayor Kalin Kamenov said in a statement after meeting with the company.
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The supplier will initially employ 500 people at the new factory in north western Bulgaria and double that number later.
Teklas Bulgaria is now due to choose the exact site of the factory, after Vratsa municipality offered several possible locations. Subsequently, the company will need to obtain approval from the city council.
Teklas Bulgaria currently has a manufacturing plant in the city of Kardzhali.
