Chinese companies ACN Worldwide and Jiangsu Alfa Bus company have signed a memorandum of understanding (MoU) with Bulgaria's investment agency for cooperation on the construction of a EUR25m (US$27.8m) plant for electric buses and research and development centre in Bulgaria, the government in Sofia said.

According to seenews.com, the government said in a statement the investment was expected to create 250 jobs. The news followed a visit of government officials to the production base of Jiangsu Alfa Bus company in Beijing.

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"We have highly qualified personnel in this industry, as leading companies manufacture high tech automotive equipment here," Bulgarian deputy prime minister Mariana Nikolova was quoted as saying.

Seenews reported last September Alfa Bus was eyeing the Bulgarian market for a plant to assemble electric buses and produce their batteries in the EU.

Alfa Bus was the only Chinese electric bus manufacturer awarded an EU certificate for all of its components, and wanted to find a niche market in Bulgaria as well as in other EU member states.

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