Euromarket Group, the local vendor of power tools and construction equipment, said it has budgeted 20 mln levs for investment operations in 2007. The investment resource will be divided among several projects.
The company plans to spend 15 mln levs on a service center for construction equipment. The facility, which should be the biggest of its type in the country, will be located on the Sofia ring road. The service center, comprising showrooms, repair shops and office premises, will occupy a land plot of 2.8 ha and will have a built-up area of 13,000 sq m. Construction should begin at the end of January and finish by late 2007.
Another 5 mln levs will be invested in the launch of regional business centers in Plovdiv, Stara Zagora and Burgas in 2007 to the tune of 10 mln levs. Construction should get underway by late June. Domestic sales of construction equipment should maintain momentum in 2007 as construction activity continues at a hectic pace, said Dimitar Ilchev, co-manager of the company.
Euromarket Group posted a 50% jump in sales last year with domestic sales topping 170 mln levs. The company sold 500 excavators. Ilichev estimates the value of the local market for new construction equipment at 50-100 mln levs in 2006.