Defense equipment supplier International Armored Group (IAG) will build armored vehicle factory in the Industrial Zone of the city Burgas in the Black Sea.

The first turf for the new factory, which will meet NATO specifications, will be delivered in March.

The initial investment will amount to 20 million leva and the local government in Burgas will finance the construction of the necessary infrastructure.

Preparations for the project began in early 2022.

The future factory will cover 150,000 square meters. A solar photovoltaic system on its roof will contribute to the factory’s energy efficiency.

IAG’s owner Anton Steffoff said, according to the company’s press service: “We are delighted to have the opportunity to expand our international family with a factory in Bulgaria, where we invest in defense innovation and the experts our country needs“.

Stefoff stated that this is an important project that will boost Bulgarian industrial production. He thanked the national and local agencies for their valuable work which made it possible to start the project on time.

The skilled workforce in Bulgaria trained by IAG experts around the world will manufacture the entire range of IAG products, including the latest Rila 8×8 armored fighting vehicle. The plant will create at least 300 jobs.

It will be the first Bulgarian factory to produce armored vehicles that meet NATO global standards.

Leading Bulgarian companies that are partners of IAG are contributing to the design of the series of electromagnetic shielded unmanned aerial vehicles, which will be used for rescue, surveillance and emergency response purposes.

The new products will also be manufactured in Bulgaria.

IAG’s strategic policy is to invest in Bulgaria’s defense industry and the Burgas plant is a step in that direction.