Skopje, 7 February 2022 (MIA) – The Italian company Condevo by installing two new state-of-the-art production lines, plans to increase its initial 35- million-euro by fifty percent and increase the number of employees, up to 150, by mid-2022, Prime Minister Dimitar Kovachevski announced Monday during a trip to the plan located in the Shtip industrial and development zone. Condevo, one of the leaders in its industry according to Kovachevski, produces boiler components and supplies the world’s largest boiler production companies. The company’s latest product, designed during the lockdown, will be produced at its plant in Shtip, revealed the PM. At the moment, Kovachevski said, 430 million denars are invested in new road infrastructure and sewage at the Shtip industrial zone, which will be connected with an expressway. All industrial zones in the country amid the pandemic have registered a rise in the number of employees, higher salaries and the companies in the zones have also paid more taxes in the state budget, he said. Negotiations, Kovachevski added, for new investments, close to EUR 300 million, are in advanced stages. They are expected to create more than 1,500 jobs. “Investments up to one billion euros are expected by 2024. According to analyzes, we expect in the next four years a 100-percent growth of the performance compared to 2010-2020 as well as additional 14,000 jobs,” PM Kovachevski said after meeting with Condevo’s owner Raffaele Giannoni. Jovan Despotovski, Director of the Directorate for Technological and Industrial Development Zones, said EUR 50 million were invested in zone infrastructure in the past 10 years. “The capital investments alone in 2021 are estimated at EUR 10 million,” he said announcing the start of construction works for a new capital investment in the Shtip industrial zone.