Italian engineering company OMS Saleri Eastern Europe plans to invest EUR 15 million in the construction of a ball valves plant near the northeastern town of Vratsa, the town authorities said.

On Thursday, the company`s owner, Jacopo Rocca, and Vratsa`s mayor, Kostadin Shakhov, signed a contract for the land plot for the future plant. The 25,000 square metre site was sold to OMS Saleri for BGN 500,000, value-added tax (VAT) excluded.

The facility is expected to reach full capacity within six years and to employ 150. The company will invest EUR 3 million during the first stage of the project.

The ball valves plant is OMS Saleri`s second investment in Vratsa. Five years ago, the company opened a sewing firm which has 135 workers.