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Schneider Electric Launches €55 Million Advanced Manufacturing Facility in Plovdiv, Bulgaria, Bolstering Regional Economy

2024-04-16 00:00:00

Schneider Electric Embarks on a €55 Million High-Tech Manufacturing Venture in Bulgaria

Schneider Electric is in the midst of launching a sophisticated manufacturing facility in Bulgaria, marked by the initiation of construction on an expansive 8,000 square meter site in the Plovdiv region, as announced by the plant director, Martin Yordanov.

Boasting a vast plot of 100,000 square meters, the factory is poised for extensive development over the next decade, with an investment of 107 million leva earmarked for the construction of this new site, according to reports by BTA agency sourced from News.ro.

Economy and Industry Minister Bogdan Bogdanov highlighted the strategic deliberations that led to the establishment of this second manufacturing site since December 2022. Initially, Schneider Electric considered Hungary as a potential site, but the concerted efforts of the InvestBulgaria Agency and Trakia Economic Zone were instrumental in securing Plovdiv as the chosen location, Bogdanov elaborated.

This project stands out for its potential to significantly enhance the regional supply chain and add substantial value to the local economy. It also symbolizes a shift in the government's approach towards fostering investments, offering direct state assistance in building road infrastructure as well as financial support for the project's fruition.

Scheduled for assembly, testing, and packaging of circuit breakers along with other low voltage electrical components, the Plovdiv facility aims to set a benchmark for modern industrial plants. The construction responsibility has been awarded to Glavbolgarstroy, with additional contractors set to be determined through an upcoming tender process. This strategic move not only reinforces Schneider Electric's commitment to innovation but also promises to bolster Bulgaria's industrial landscape significantly.