Skopje, 23 September 2021 (MIA) – Teknopanel, a Turkish high-tech company, will invest EUR 16 million to build a new production plant in the Skopje technological and industrial development zone. The investment was presented Thursday at a meeting of company officials, led by owner Orhan Kahveci, with Prime Minister Zoran Zaev and Jovan Despotovski, Director of the Directorate for Technological and Industrial Development Zones. Teknopanel will open 120 new jobs in this stage, according to the investment plan. It is expected the company to record total exports in amount of over EUR 170 million in the next 10 years. It is obligated to pay the state budget over EUR 5 million in revenues for salary contributions whereas it should pay more than EUR 2.5 million in profit tax and personal salary tax, said the government in a press release. The company produces innovative so called “sandwich” panels providing thermal, hydro and sound isolation while also being fire-proof. They are used for rooftops of industrial buildings. “Teknopanel is the first foreign investor with which the government will sign a contract with elements from the new concept of operations of the Directorate for Technological and Industrial Development Zones,” said the government adding a contract will be signed in the next few weeks. According to the Directorate’s new concept to attract investments, any potential investor is tasked with filing a 10-year investment plan, based on which the capacity of the company and the investment is assessed, and an individual package for the state’s participation in the investment is prepared. Teknopanel is one of Turkey’s largest exporters and one of the country’s top 500 leading industrial companies. It has five factories in Turkey with over 450 employees and exports products in 89 countries in Asia, Europe and America.