Photo: Council of Ministers
A high-tech plant of ZS Europe, located in Maritsa Industrial Zone, South Central Bulgaria, opened a production capacity expansion on September 8. The project is the result of a strategic decision by Chinese company Shanghai Unison Aluminium Products to expand its presence in Europe and establish a high-tech production facility in Bulgaria for aluminium components for the automotive industry, Trakia Economic Zone (TEZ) reported.
The total investment to date exceeds EUR 17.5 million, making the project one of the most significant new high-tech industrial investments in the region. The expansion is a natural continuation of the successfully completed first phase and is indicative of the company's sustainable development and the investor's confidence in Bulgaria, TEZ added.
The expansion was inaugurated by Prime Minister Rumen Radev who said at the event that Chinese investment has a place in Bulgaria and that its presence is evidence of growing confidence in the country. Radev stated that for many years, Chinese investments had been directed to other European countries, however, the newly opened high-tech production facility demonstrated that Chinese investment could be successfully based in Bulgaria and use the country as a gateway to markets across Europe.
The Prime Minister described the event as a sign of the deepening partnership and friendship between Bulgaria and China following the 2019 declaration on strategic partnership signed by him and Chinese President Xi Jinping.
Chinese Ambassador to Bulgaria Dai Qingli said that this investment demonstrates the high level of confidence Chinese companies have in the Bulgarian economy. She added that the project was, to date, the largest Chinese investment in Bulgaria. She also pointed out that five Chinese automobile manufacturers were already present on the Bulgarian market. The Ambassador expressed hope for continued progress in Bulgarian-Chinese relations.