Executives of Austrian steelmaker Voestalpine met with Bulgarian Prime Minister Sergei Stanishev to talk about the possible construction of a new steel plant in Bulgaria.

The new plant was estimated to cost at least 5 billion euro and create 25 000 jobs.

On January 15, Voestalpine excutives met with Stanishev to present their investment plans in the region, a Bulgarian government media statement said. Economy and Energy Minister Petar Dimitrov, Deputy Economy and Energy Minister Yavor Kouyumdjiev, managing director of the Bulgarian Investment Agency Stoyan Salev and Austrian embassador Claus Fabian took part in the meeting.

Company management said it was studying the possbilities to build a new production facility in Bulgaria and was expecting state support, the government media statement said.

Bulgaria, Romania, the Ukraine and Turkey were competing to become the site of the new steel plant in Eastern Europe that Voestalpine was planning.

A decision over the location of the new plant was expected in October 2008, Reuters said.