April 6 (SeeNews) - North Macedonia's construction company City Plaza plans to invest 105 million euro ($123.7 million) by 2025 in capacity expansion of recently acquired retailer Ramstore Macedonia, prime minister Zoran Zaev said.
City Plaza's investment plans include the construction of a new office building and a four-level underground garage in the Ramstore shopping mall, expansion of the retailer's supermarket network by opening 18 new stores and building three retail parks and a logistics centre, Zaev told a press conference streamed on the government's YouTube channel on Monday.
The investment projects are expected to create at least 700 new jobs.
The company also plans to invest in a 5 MW solar power plant near the eastern city of Kochani, the prime minister said, without disclosing details.
City Plaza purchased Ramstore Bulgaria - a dormant company which owns 99% of Ramstore Macedonia, from Turkish supermarket chain Migros for 39.2 million euro, VAT excluded, in late March, Migros said in a bourse filing last week.
Ramstore Macedonia operates a shopping mall and 28 supermarkets in North Macedonia, employing about 1,000 people.
($ = 0.8487 euro)