25 January 2013

NORMAK Investment Group to manage Tetovo free economic zone

Norwegian consortium Normak Investment Group is the consortium that will manage the Tetovo-based free economic zone, said Economy Minister Valon Saraqini at Friday's press conference.

An agreement for public-private partnership is to be signed 30 days upon publishing of the decision.
According to NORMAK's business plan, the company is obliged to build 40 percent of the zone within the first three years, whereas the projected activities should be completed in seven.

The minimum capital investment is EUR 7 million, while additional projected investments should reach EUR 150 million.
"The decision for management of Technological Industrial Development Zone Tetovo is of exceptional significance, not only for development of the Polog region, but also for Macedonian economy in general. This will not only open new jobs, but also enable the entry of new technologies", stressed Minister Saraqini.

No comments:

Post a Comment