Turkiye’s home appliances heating elements maker Sahterm Elektrikli Isiticilar San. ve Tic. A.S. will invest $76.4 million (70 million euro) in the construction of a factory in North Macedonia’s Skopje,the country’s Directorate for Technological Industrial Development Zones (TIDZ) said on Thursday.
The company will start the construction of the factory in 2024 and plans to open over 1,000 job positions in the next ten years, TIDZ said in a press release.
The investment will also encompass the construction of a research and development centre.
The factory will be the company’s first production facility outside of Turkiye, according to the press release.
Sahterm produces a range of heating elements for household appliances. Over half of its total annual production is exported.
($ = 0.915672 euro)