Schneider Electric has started construction of its second high-tech factory in Bulgaria, on an area of 8,000 square meters, in the Plovdiv region, said the director of the factory, Martin Yordanov.

The factory owns a land of 100,000 square meters and intends to develop to the maximum within 10 years. 107 million leva will be invested in the construction of the new factory, BTA agency writes, according to News.ro.

Economy and Industry Minister Bogdan Bogdanov recalled that discussions about a second factory started in December 2022. At that time, Schneider believed that Hungary could be a better location for the factory, and InvestBulgaria Agency and Trakia Economic Zone take credit for the implementation of the project in Plovdiv, said Bogdanov.

The project is important because it generates added value, and the supply chain of the region will develop even more. It is also the first project that registers a change in the government’s activity with investors, the Minister of Economy said. The project receives direct state aid not only for building the road infrastructure, but also direct financial aid for the implementation of the investment.

The new factory in Plovdiv will assemble, test and package circuit breakers and other low voltage electrical products. The goal is to create a state-of-the-art industrial plant. It will be built by Glavbolgarstroy. The other contractors will be known after the organization of a tender.