Great Wa pressure seal gate valve ll to set up production facility in Bulgaria
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Great Wall to set up production facility in BulgariaPublished: 12 Dec 2008 02:54:01 PST Dec. 12, 2008 (China Knowledge) — Great Wall Motor Co Ltd<2333>, the largest privately owned automotive manufacturer in China, said it has signed a letter of intent with a Bulgarian company to jointly sett up a car plant in the European country. The new plant, located at Lovech, about 170 km northeast of Sofia, is scheduled to be launched at the beginning of next year and will provide around 1,500 jobs, according to a government statement. Great Wall is reportedly to invest EUR 80 million in the joint venture, which is expected to produce 50,000 vehicles per year, mainly targeting at the Bulgarian market, sources reported. Last month, the Chinese auto manufacturer decided to dissolve its joint venture in Russia due to recent regulatory hurdles and the prevailing gloomy macroeconomic situation in the world. Copyright © 2008 http://www.chinaknowledge.com Send feedback or comments to: news@chinaknowledge.com For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: To access our page on Bloomberg, type CKFI Related Topics China News lithium battery RTA cabinets lithium batteries 外汇交易 エバープラネット rmt