OBI to Invest €300 million in Bulgaria

May 15, 2006 - Dnevnik

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German home improvement retailer OBI plans to invest 300 million Euro in the roll out of 40 hypermarkets in Bulgaria, it emerged during the trip to Germany of Bulgarian regional development minister Asen Gagauzov.

Gagauzov said that most of the Bulgarian municipalities have zoned properties for logistic operations where OBI will likely find suitable lots for its stores.

Austria's bauMAX, another home decor and garden retailer, has also announced plans to step on the Bulgarian market and intends to built some 15 hypermarkets.