site.btaCouncil of Ministers Approves Memorandum of Understanding with EnduroSat

The Council of Ministers has approved a Memorandum of Understanding between the Government of the Republic of Bulgaria and EnduroSat for the implementation of a priority investment project for a research and development space centre. The project will be carried out in Sofia, within the Sofia Municipality. The decision also establishes an interdepartmental working group to provide institutional support for the implementation of the investment.

The project involves the construction of a new research and development space center, equipped with advanced machinery and modern technologies for the development of a new class of satellites. The investment in tangible and intangible fixed assets amounts to EUR 10,686,000.32. The project is expected to create 50 new jobs.

The investment project is an ambitious initiative aimed at significantly expanding the company’s development capacity, the company is a leader in space technologies. The implementation of the project will contribute to strengthening the space sector in Bulgaria and will create new opportunities for highly qualified specialists in the field of space technologies. All developments are intended for export, with the main markets being the United States, the European Union, Japan, and others.

Investment projects that are particularly significant for the economic development of Bulgaria or for specific regions of the country are considered a priority under the Investment Promotion Act. Investment promotion policy is carried out by the Ministry of Innovation and Growth.