Belgian Company ABEE Plans To Invest up to 1.1 Billion Euro in Bulgaria

Bulgarian PM Nikolay Denkov said Belgian battery producer Avesta Battery & Energy Engineering (ABEE) is planning to invest 1.1 billion euro for battery production in Bulgaria, news agency BTA reported.

ABEE has an intention to produce a new generation of solid-phase lithium-ion batteries, which are widely used in the automotive industry and also in other technologies, the Bulgarian PM was quoted by BTA.

The total investment would amount to up to 1.1 billion euro over the next three to five years, depending on how the investment is implemented, Denkov said.

ABEE Director Noshin Omar told at a press conference at the Council that the project is one of the largest battery production projects in Europe and envisages opening plants in Stara Zagora, Plovdiv and Burgas, BTA said.

The planned investment in Bulgaria will open 1,000 new jobs, Denkov said.

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