Athletic apparel maker Head Holding GMBH is to invest EUR200,000 in the Pazardjik industrial zone in southern Bulgaria.

The funding, announced by Head vice-president Gerald Skrobanek on Wednesday, will be put towards the construction of water, sewerage, electricity and gas infrastructure at the site.

An official funding agreement is to be signed by the Austrian company and the municipality of Pazardjik by the end of January 2004.

If the municipality honours its commitments under the agreement, Head will extend the money in two segments in February and March, before setting up its Pazardjik production facility in June.