Kostal, a German automotive components manufacturing company, signed a €50m investment contract with the Macedonian government to build a manufacturing plant in the country’s Ohrid and Struga region. CEOs Christopher Sanders and Yuri Makhlakov met with Macedonian Prime Minister Nikola Gruevski last Thursday prior to inking the deal.
Kostal will initially make a brownfield investment by leasing an existing production plant to launch production. But at the beginning of 2016, the German company will start building its own plant in an industrial zone in southwest Macedonia. Overall, the investment will generate about 1,000 new jobs, with many more to be created as an indirect result of the new factory.
