Construction works start in Tetovo for the construction of the free economic area

Construction works start in Tetovo for the construction of the free economic area

Tetovo, November 8, 2013

The construction of the free economic area in Tetovo kicked off today. Present in this ceremony were prime minister Nikola Gruevski, leader of BDI, Ali Ahmeti, minister Valon Saracini, mayor of Tetovo, Teuta Arifi and other officials.

For a total of 157 million Euros, the government trusted with the management of the technological development of the industrial area of Tetovo two countries and three Norwegian companies, “Normak Investment Group”. With these funds, Norwegian investors have won concession rights over TIRZ Tetovo for the next 96 years. According to the Bureau, the concessionary agreement between the government and Normak Investment Group was signed on April 5 of this year.

The industrial technological area in Tetovo will be managed according to the principle of partnership between the public and private sector. Normak Investment Group’s job is to withdraw investors in the area and the state must build a highway between Tetovo and Skopje in order to have better access to the area. The dynamic of the construction and operation of technological development of the industrial area will depend on the business plan of the private investor.

The free economic area in the region of Tetovo will include a area of 94 hectares. According to planning, the first phase of the project will consist on the construction of 25 to 30 industrial objects which will employ around 7 thousand people. /ibna/