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Italian Company to Build Ball Valves Plant in Bulgaria
ITALIAN COMPANY TO BUILD BALL VALVES PLANT IN BULGARIA
Date: 10/03/2011
Source: novinite.com
Italian Company to Build Ball Valves Plant in Bulgaria

The Italian company "O.M.S. Saleri" is planning to invest EUR 15 M in building a plant for ball valves manufacturing in the Bulgarian northwestern city of Vratsa.

On Thursday, the mayor of Vratsa, Kostadin Shahov, and the owner of the Italian company, Jacopo Rocca, signed the contract for the land on which the new plant will be built.

The field has an area of 25 000 square meters and has been sold to the prospective investor for BGN 500 000, value-added tax (VAT) excluded.

The new plant for ball valves manufacturing is expected to be built and to start operating in full capacity in six years. By that time, the number of employees is expected to reach 150.

The initial investment in buildings and equipment will amount to EUR 3 M and the number of employed will be 40, in order to ensure that the starting date will be as soon as possible.

The ball valves plant is the second investment by "O.M.S. Saleri" in Vratsa, the first one being a sewing factory, which was built five years ago. It has employed 135 people since then.


Topic: Investments



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