Skopje, 23 November 2023 (MIA) - Turkish company "Şahterm" will invest EUR 70 million in the construction of a new production facility in the technological industrial development zone (TIDZ) in Skopje. TIDZ Director Jovan Despotovski and Şahterm General Manager Faruk Şahin concluded the investment agreement during a meeting in Bursa, Turkey on Thursday.

"With today's decision, Şahterm becomes a new member of the TIDZ family. Talks were not easy, especially in the last round. But what is important at the end is the company's decision to invest in Macedonia and create 1,000 new jobs for our fellow citizens," Despotovski said after announcing the decision at the company's headquarters.

He expressed gratitude to all institutions, including the Embassy of North Macedonia in Ankara, for their support during talks with the company.

"Today's success also belongs to the expert team at the TIDZ directorate, who in a very short time managed to fulfill our key demands and needs, which made this investment possible. We will continue to grow together," Şahin said.

The company will begin realizing the investment in 2024, and in the next 10 years they plan on creating 1,000 new jobs. Şahterm has more than 40 years of experience in the design and production of heating elements and household appliances. The company is currently one of the leading five companies in this business globally, with more than half of the annual production designed for markets outside of Turkey. Their list of clients includes well-known global manufacturers of household appliances, such as Whirlpool Amica, Gorenje, BEKO, and CandyGroup.

This new investment will include a center for research and development, making it Şahterm's first production facility outside of Turkey.

Since the beginning of the year and with the inclusion of this new investment agreement, TIDZ has secured over EUR 450 million in new investments that have created over 7,000 new jobs. ssh/ik/

Photo: TIDZ