By a cornerstone laying ceremony for construction of two plants at the Technological and Industrial Development Zone Skopje 1, India's Motherson Group has officially entered Macedonia's market.
The company invests EUR12 million in the plants that will manufacture parts for rear view mirrors, aimed for the European market, as well as open 140 new jobs. The plants should be completed in 12 months.
Macedonia is proud to host a giant such as Motherson Group, being present and successful in over 30 countries worldwide, Prime Minister Nikola Gruevski said at the cornerstone laying ceremony.
The new investment, he said, bears two-fold significance for Macedonia - opening of new jobs, the company's announcements for further investments; and role model for other India's companies to come to Macedonia.
Step by step the Government's policies for attracting foreign investments to this industrial zone, along with fading away of the global economic crisis, have been bearing fruits, the PM said.
Hence, the arrival of three investments for the last one and a half month is not accidental, Gruevski said, announcing negotiations with a larger group of companies on their possible investing in Macedonia.
Vivek Chaand Sehgal, chairman of the Indian company, expressed hope to find a new home in Macedonia. He said he was starting with two projects, but didn't exclude the possibility for further development.
Earlier today, a memorandum of understanding and agreements for lease of land and for allocating state aid with regard to the two investments was signed by Sehgal and Viktor Mizo - director of the Macedonian Agency for Foreign Investments and Export Promotion.
Motherson Group is part of the Samvardhana Motherson Group. The Group, founded in 1975 has a diversified product range to serve multiple industries, with automotive industry being the main industry served. The Group business portfolio comprises electrical distribution systems (wiring harnesses), automotive rearview mirrors, polymer processing, injection molding tools, elastomer processing, modules and systems, machined metal products, cutting tools, IT services, design engineering, CAE services, vehicle air conditioning systems, lighting systems, cabins for off-highway vehicles, cutting tools and thin film coating metals. Today it is present in over 20 countries, offering the know-how of its 40,000 professionals.
This is the first India's investment in Macedonia. It joins five companies, located in Bunardzik free tzone, namely the US Johnston Controls and Kemet Electronics, UK Johnson Metty, Italy's Teknohose - part of Vitillo Group, and  Russia's  Prodis - part of the pharmaceutical holding Protek Group.