The Council of Ministers has approved a draft Memorandum of Understanding with the investor Yazaki Bulgaria EOOD for the construction of a plant for cable equipment of cars near the village of Krepost in the region of Dimitrovgrad, the press centre of the Bulgarian Government announced.

The plant will produce electric installations for Mercedes class A and V cars.

Production is expected to start in April 2017, while the announced investment is to the amount of BGN 45.5 M. The money will be invested in several stages until 2019. The expected number of new jobs directly linked to the project is 3,150.

Yazaki Corporation is one of the biggest producers of cable equipment for the automobile industry. It has 175 centres for development, production and sales in 50 countries.

The group entered the Bulgarian market in 2006 and has plants in Yambol and Sliven, which produce cables for Ford and Renault models.