Turkey’s home appliances heating elements maker Sahterm Elektrikli Isiticilar San. ve Tic. A.S. signed an agreement with North Macedonia’s Directorate for Technological Industrial Development Zones (TIDZ) to build a 100 million euro ($107.2 million) factory in Skopje, TIDZ said on Friday.
The contract foresees the lease of over 20,000 sq m of land in the Skopje 2 industrial zone and the construction of a plant with an area of over 13,000 sq m in the first of the two investment phases, TIDZ said in a press release.
The company plans to open over 1,000 job positions in the next ten years. The investment will also encompass the construction of a research and development centre.
The factory will be the company’s first production facility outside of Turkey, according to the press release.
Sahterm produces a range of heating elements for household appliances. Over half of its total annual production is exported.
($ = 0.932 euro)
Source: SeeNews
