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Turkey's Istem Medikal cancels plans for 10 mln plant in Macedonia - report

Turkey's Istem Medikal cancels plans for 10 mln plant in Macedonia - report Author: Dafne Cholet. License: Creative Commons.

SKOPJE (Macedonia), February 3 (SeeNews) - Turkish medical equipment maker Istem Medikal cancelled its plans to build a plant in Skopje's industrial zone, Macedonian media reported on Friday.

According to the newspaper Libertas, the Commission for Protection of Competition has terminated the contract back in August 2016.

The reason for the contract cancellation was that Istem Medikal did not launch the construction of the plant within the agreed time-frame of nine months, Libertas said.

The construction of the plant was due to begin in 2015. The failed project was expected to employ some 150 people in the beginning, as this number should have reached 250 in the next years.

Istem Medikal was established in 1996 and was initially active only in trade with medical equipment. Since 2007 it has an own manufacturing facility.

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