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The leading company in the global defense industry International Armored Group (IAG) will invest in two more plants for armored vehicles in Bulgaria. This was announced by the owner of IAG, Dr. Anton Stefov, during the official ceremony for the start of the construction of his largest production base for armored vehicles in Burgas.

The company announced an investment intention to buy land in Blagoevgrad and Plovdiv. The initial investment for each of the two following plants is estimated at an approximate value of BGN 25,000,000.

The investor's expectations are that he will very soon acquire the relevant land in the two settlements.

I believe that the plant we are starting to build today will further accelerate the growth of Bulgarian industrial production. It is important and much more profitable financially for Bulgaria to have our own production and to invest in our own defense. We will contribute to increasing exports, introduce innovations in the Bulgarian defense industry and create Bulgarian specialists in a field of growing importance worldwide. We are already working hard on the projects for two more new plants of the International Armored Group in Bulgaria, looking at possibilities in Plovdiv and Blagoevgrad", said the owner of the company Dr. Anton Stefov.

Certificate

During the official ceremony, the executive director of the Bulgarian Investment Agency (BAI) Bogdan Bogdanov presented a certificate for "Investor class A" to the International Armored Group and wished success to the project.

This certificate is presented to the investor to mark the next important step in the company's development as a leading company in the global defense industry. We appreciate the construction of a plant of this scale as a strategic step in the military industry of national and European significance," said Bogdan Bogdanov.

The importance of the investment in the region was also noted by the Mayor of Burgas Municipality, Dimitar Nikolov.

I thank Dr. Anton Stefov for choosing to make this serious investment here. I also thank him for his impulse and the strong energy that he put into the quick realization of the first sod. It is a structure-defining enterprise that will give impetus to the development of the city, opening new jobs and attracting related industries. That's why, together with the state, we are doing everything possible to shorten the deadlines for the implementation of the project as much as possible, said Nikolov.

The factory in Burgas

For the implementation of the project, an initial investment of BGN 20 million is planned by IAG, and the municipality of Burgas, for its part, will finance activities for the construction of technical and supply infrastructure. The preparation of the project started already at the beginning of 2022. The new plant will have an area of 150,000 square meters, and the roof photovoltaic installations will contribute to the energy efficiency of the building. Bulgarian specialists, trained by IAG experts around the world, will manufacture the entire range of the company's products, including the latest armored infantry vehicle "RILA 8x8".

Completion of the factory will create at least 300 jobs, and for the first time Bulgarian specialists will have the opportunity to produce armored vehicles according to global NATO standards on the territory of Bulgaria. The development of a series of interference-protected drones for rescue, reconnaissance and emergency teams is also underway, with the participation of leading Bulgarian partner companies of IAG. The new developments will also be produced in Bulgaria. Armored platforms - carriers of light artillery systems - are also in the process of engineering calculations. Military evacuation cranes and light patrol cars are already in series production in the IAG product range.

Source: https://www.economic.bg/bg/a/view/iag-shte-stroi-zavod-za-bronirani-avtomobili-v-blagoevgrad-i-plovdiv