site.btaElectric Motor R&D Project Recognized as Class A Investment

Innovation and Growth Minister Milena Stoicheva on Thursday presented a Class A certificate to Nidec Elesys R&D Europe Bulgaria Ltd for a BGN 4,827,500 investment in research and development. The project is expected to create 70 new jobs. The ceremony at the company's development centre was also attended by InvestBulgaria Agency Executive Director Mila Nenova.

The investment will go into building an expert team to develop electronic thrust reversers, on- and off-board chargers, transformers and all sorts of motor propulsion applications.

Nidec Elesys R&D Europe Bulgaria Ltd is a member of Nidec Corporation, a leading Japanese manufacturer and distributor of electric motors.

Meeting with Philippe Marquet, R&D Director Europe at Nidec Elesys, and Radosveta Krasteva, R&D Manager for the company's Bulgarian subsidiary, Minister Stoicheva said: "The Ministry of Innovation and Growth is working to make Bulgaria an innovation hub of Southeastern Europe. We promote innovation which is based on research and development and which will attract high-technology investment in Bulgaria."

According to Stoicheva, the future of technology is in developing innovative products which offer comprehensive solutions. She believes that Bulgaria has huge potential to draw investors in R&D with its talented people and decent infrastructure.

Since June, the Bulgarian authorities have awarded certificates for 11 investment projects totalling BGN 75 million. The undertakings are expected to create about 1,000 jobs.