BASF Mulling Bulgaria for Major Industrial Investment - Report

BASF is likely to built a new factory in Bulgaria. Photo by EPA/BGNES

German chemical corporation BASF is surveying five countries as the potential location of a major new industrial plant, reports say.

The new BASF factory in question is supposed to produce catalysts for cars and trucks, the Bulgarian paper Capital Daily reported Wednesday night.

The paper points out that BASF Bulgaria, the local subsidiary of the German giant, is only dealing with commercial activities for the time being.

The report whose sources have not been mentioned reveals that Bulgaria is in competition with Romania, Slovakia, the Czech Republic, and the Former Yugoslav Republic of Macedonia for the potential BASF investment.

BASF is expected to pick one of the five states by the end of the first quarter of 2012.

Valentina Dikanska, head of the Finance and Administration department of BASF Bulgaria, is quoted saying that Bulgaria is on the BASF list for potential smaller-scale manufacturing investments of EUR 5 M to EUR 50 M.

However, she has refused to confirm or deny the report that Bulgaria is shortlisted for the new BASF factory.

Dikanska has pointed out that macroeconomic stability and qualified labor as Bulgaria's main advantages in attracting foreign investments.

BASF has been on the Bulgarian market since 1968 when it opened a commercial representation in Sofia. BASF sells in Bulgaria high-tech chemical products for industry and agriculture.

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