Bulgaria PM Opens Penny Markt's BGN 30 M Logistic Center near Sofia

The German investors from Penny Markt presented Prime Minister Borisov with a bottle of vodka "Borisov". Pictured acting Sofia Mayor Gerdzhikov, Development Minister Plevneliev and PM Borisov looking at the bottle. Photo by BGNES

Bulgaria’s Prime Minister, Boyko Borisov, opened Wednesday a logistics center of the German retail chain Penny Markt in the village of Stolnik, 25 km south of Sofia.

“Real anti-crisis measures are those – bringing investments, keeping investors, creating new jobs. The best German company is finding good investment climate in Bulgaria,” Borisov said at the opening.

Borisov was the person who broke the ground of the Penny Markt logistics center in Stolnik, Elin Pelin Municipality five months ago when he was still the Mayor of Sofia.

“This is work done without corruption, with fast administration and people, who execute a project in six months,” Borisov said.

About BGN 30 M have been invested so far in the Penny Markt logistics center in Stolnik; the overall investment is expected to surpass EUR 100 M by the end of 2009. 700 people will be hired in the new logistics center by the end of the year.

The Penny Markt logistics center is located on an area of 78 decares, and its storage space includes 28 000. It is the largest in existence in Bulgaria, and is designed to supply up to 100 large stores around the country. The center is equipped with a purification station and a photovoltaic system.

Penny Markt is a German discount retail chain. It plans to open between 20 and 30 stores in Bulgaria by the end of 2009, and two of them will be in Sofia. The rest will be in Vratsa, Botevgrad, Veliko Tarnovo, Svilengrad, Shumen, Dobrich, Ruse, Nova Zagora.

In the next 5 years, Penny Markt plans on opening about 150 stores around the country, creating some 2 500-3 000. Its total investment is going to reach about EUR 250 M

As part of the chain’s expansion, Penny Markt is planning to open a second logistics center near the northeast city of Shumen, which will have a total storage area of 18 000 square meters, and will be designed to supply up to 80 stores.

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