Great Wall Motor signs $6M deal to build Bulgaria plant

Shanghai, October 20 (Gasgoo.com) Great Wall Motor has signed a EUR 4 million (US$6 mln) contract with Bulgarian's Litex last week to build an assembly plant in the country.

The contract was signed during a ceremony at Bulgaria's Council of Ministers in the presence of Bulgaria's Prime Minister, Boyko Borisov, and Chinese Vice President Xi Jinping on October 15.

Under the contract, Great Wall Motor is to build a 50,000-unit-a-year assembly plant in Bulgarian city of Lovech. Four models are scheduled to be produced there, including a SUV, a pickup and two sedans, all of which have gained EU approvals. The first batch of the vehicles will run off the production line in the first half of 2011.

Since Bulgaria is a member of the European Union, the project is expected to give Great Wall access to other EU and non-EU countries at zero tariff levels.