Italian engineering company OMS Saleri Eastern Europe plans to invest 15 million euro in the construction of a ball valves plant near the northeastern town of Vratsa, the town authorities said.
On March 10 2011, the company's owner, Jacopo Rocca, and Vratsa's mayor, Kostadin Shakhov, signed a contract for the land plot for the future plant. The 25 000 square metre site was sold to OMS Saleri for 500 000 leva, value-added tax (VAT) excluded.
The facility is expected to reach full capacity within six years and employ 150. The company will invest three million euro during the first stage of the project.
The ball valves plant is OMS Saleri's second investment in Vratsa. Five years ago, the company opened a sewing firm that has 135 workers.