Indian engineering company Escorts will start producing Farmtrac tractors in Bulgaria, the Southeast European country's economy ministry said.
As part of the plan, the Mumbai-listed company Escorts has set up a local unit. Escorts plans to eventually expand its operations in Bulgaria. At present the company makes agricultural machinery, construction and material handling equipment, railway equipment and auto components.
Another Indian company, IT services provider WIPRO, will study the opportunities of launchling hydraulic cylinders production in Bulgaria, the ministry also said in a statement. WIPRO is also considering basing its East European IT activities out of Bulgaria, the ministry said in a press release after a meeting between economy minister Delyan Dobrev and senior officials of the Indian company in Delhi.