REAL ESTATE BOOM IN BULGARIA TO SPAWN CONSTRUCTION MATERIAL FACTORIES

The development of Bulgaria's property market and the consequent boom in construction would lead to the construction of building materials plants, Bulgarian-language newspaper Kapital weekly said.

Most of the foreign building material companies that already had leading shares in the market, planned to extend their business in Bulgaria, Kapital said.

Building materials worth 50 million euro were sold in Bulgaria every year and these figures would increase.

Building materials companies would prefer to open plants in Bulgaria because it was unprofitable to import the quantities needed to satisfy demand, Kapital said.

Cheap labour and low taxes were among other reasons for the building materials producers to decide to construct plants in Bulgaria.

Companies like Ytong Xella Bulgaria and Austroterm already has building materials plants in Bulgaria, Kapital said.

source: the Sofia Echo, 17.10.2006