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Us ITT To Invest $400 Million In Bulgaria

US company ‘ITT', active in the defence and civil sectors, plans to invest $400 million in Bulgaria, told from Balkantel, the company's local representative, quoted by Dnevnik a.m.

‘ITT' plans to build new production facilities as part of its local expansion.

The company is after one of the major contracts for the modernisation of the Bulgarian armed forces: the procurement of communication and information systems for the general staff, land forces, navy and the air force, sources told Dnevnik.

For the purposes Bulgarian Defence Ministry should pick a foreign strategic partner with prior experience in the development of systems employed. ITT has been chosen for that partner.