Factory for armored vehicles near Burgas
Source：Taiwan Trade Center, Sofia
From：Taiwan Trade Center, Sofia
Update Time：2023/06/20
Burgas, a city known for its strategic location and economic potential, has recently witnessed a serious development. In 2022, International Armored Group, a company new to the Bulgarian economy, chose Burgas as the site for its latest investment—a state-of-the-art factory for armored vehicles. This move has sparked considerable excitement and anticipation among the local community.
The visionary behind this venture is Anton Stefov, a Bulgarian entrepreneur with a Canadian passport. Stefov, driven by his passion for innovation, established “International Armored Group” the local subsidiary responsible for this ambitious project. Acquiring 150-decar land plot, the company aims to build a facility that will manufacture a comprehensive range of armored vehicles, including the highly anticipated “Rila 8X8” infantry vehicle.
Projected to be completed within a year, the factory is poised to become a symbol of technological advancement and industrial prowess in the region. Dr. Ognyan Cholakov, the Business Development Manager of International Armored Group, proudly emphasized that their vehicles adhere to the rigorous NATO standards, ensuring the highest level of quality and performance. While recognizing the potential demand within Bulgaria for these advanced machines Dr. Cholakov also acknowledged that the main focus will be on the foreign markets.
Initially budgeted at 20 million BGN, the investment in the plant has experienced adjustments due to factors such as inflation and the rising costs of steel and construction materials. Consequently, the estimated total investment is now expected to reach about 30 million BGN. This increased budget further underscores the magnitude of International Armored Group's commitment to both the local economy and the production of cutting-edge armored vehicles.
The establishment of this factory not only signifies a further boost to the region's economy but also enhances Bulgaria's reputation as a destination for innovative industrial ventures. It is also a testament to the development of the industrial zones near Burgas.