German-based lighting behemoth Osram announced on October 10 a total investment of EUR 25.6 million (USD 30.1 million) in its first plant in Bulgaria. The company has made public its plan to expand its production line to Eastern Europe earlier in March this year, covered in news from SeeNews.
The plant is reported to be located in the Trakia Economic Zone near Plovdiv, the second largest city of Bulgaria. Osram has raised its investment for the new plant from EUR 23 million (USD 25.9 million) reported in March to EUR 25.6 million (USD 30.1 million).
The construction project started in late March and the factory is ready to operate on Octorber 19, according to an Osram official statement. It will release over 900 job vacancies, with approximately 150 management jobs and 750 regular ones.
The new Plovdiv plant will be intended for the manufacture of smart LED lighting systems.
Since it first stepped into Bulgaria’s lighting market in 1998, Osram as of now holds a double-digit market share. An Osram representative revealed the company picked Plovdiv for its location as an access to the key transport corridor of Europe and the Eastern European market including countries such as Romania, Moldova, Serbia, Macedonia, and Kosovo, and for its local well-qualified workforce, reported Europost.
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|(Video: RT Consult)|