The US company ITT is planning to invest more than USD 400mn in the country, according to information revealed by its local representative Balkantel. The company mulls construction of production units and acquisitions of local firms. ITT is expected to reveal its strategy for development on the local market tomorrow. As earlier reported, ITT is planning to launch several joint ventures in the country with the aircraft rapair plant Terem Georgi Benkovski in Plovdiv and the optical equipment producer Optics in Panagiurishte. The company is also interested in manufacturing of radio equipment, software development, construction of a large logistics park, and transfer of technologies to public infrastructure and other projects in the civil sector such as water supply. It announced a year ago plans to to hire local producers as subcontractors due to lower labour costs. ITT is separately vying for a EUR 204.5mn project for building an integrated information and communication system of the army, which should be completed until 2022. ITT holds more than 50% of the tactics communications market but is specialised also in purification of water, radar systems, and avionics. The total revenues of the company stood at USD 9bn last year, half of which were generated by its defense electronics unit.