Great Wall to set up plant in Bulgaria
(chinatrucks.com, Nov 17, 2010) China Great Wall Auto Shares Company Limited and Bulgaria Leetkux Group has signed the cooperative agreement to invest 80 million Euros to set up an auto plant in Lovech. Management level of Great Wall Auto Shares Company Limited, and CEO of Bulgaria Leetkux Group have officially signed the cooperation agreement, and Chinese vice president, Jinping Xi, and premier of Bulgaria have attended the signing ceremony.
The annual production volumes of assembly plant invested by both parties are 50,000 in accordance with bilateral cooperation agreement. The plant is planned to be completed and put into production at the first half of 2011. The plant will adopt Great Wall brand mark in the way of CKD to conduct assembly and sell Great Wall products. Great Wall company will join the shares in the way of technology investment.
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