Europe's largest retailer Carrefour plans to establish a large network of outlets across Bulgaria, the company announced Thursday. Hypermarkets of the most competitive retailer in Europe will open in Sofia, as well as in Varna, Burgas, Plovdiv, Stara Zagora, Carrefour's Jerome Louber said after his company received a first class investment certificate. The certificate opens for the company opportunities to use state aid for the construction of all needed infrastructure.

French-owned Carrefour has planned investments of more than EUR 82 M in Bulgaria by the end of 2008. Annual investment is expected to reach EUR 33.9 M in 2006, EUR 23.9 M in 2007 and EUR 23.8 M in 2008.

Carrefour has already purchased a plot in Sofia, where it is now committed to open a large trade centre. The centre would have four shopping floors with total area of 70 523 square metres. Talks are under way for the purchase of another land plot, it emerged on Thursday.

Greece's Carrefour Marinopoulos, the company's partner for Cyprus, Greece and Bulgaria, will be in charge of the local market entry.