The leading manufacturer of armored vehicles International Armored Group (IAG) is beginning preparations for the construction of a new factory in the coastal city of Burgas. This is another step in the company’s strategy to invest directly in Bulgaria’s arms industry. In 2021, it chose a Bulgarian test site to carry out quality tests according to NATO's standards. IAG is founded by Bulgarian emigrant Dr. Anton Stefov.
The new factory will be built in the industrial zone in Burgas. A preliminary contract for the acquisition of 150,000 square meters of land was signed. The construction of the plant will begin at the end of 2022.
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