German electronic products maker Kostal plans to invest in Macedonia - govt

The company will first make brownfield investments in the region of lakeside cities of Ohrid and Struga, in the country’s southwest, and then build its own production facility, prime minister Nikola Gruevski said on his Facebook page, as quoted in a statement of the Macedonian government.

The government quoted Kostal’s executive vice president Christopher Sanders as saying that the company’s plans for investments in Macedonia are in line with its growth strategy.

Kostal and the Macedonian government will finalize the investment agreement by the end of January 2015, the statement added. The German company will start brownfield operations in early 2015, to be followed by greenfield investments in the 2017-2018 period.