Tunisian company Coficab - one of the top three manufacturers of automotive electrical cables and wires in the world - is due to launch a brown-field investment in Macedonia in mid-December, minister without portfolio Vele Samak announced on Monday.

"150 people will be employed in the first three years. After recognizing the size of the local market, the company reached a decision to invest during the summer. The firm is located in Kavadarci where in December they are expected to start delivering cables to Dräxlmaier and shortly afterwards to Kromberg & Schubert as well," Samak stated adding that Coficab would kick off a greenfield investment in 2014.

On Sunday, Prime Minister Nikola Gruevski said that a Tunisian company, a partner of Germany's Dräxlmaier, had intended to build a plant in Kavadarci.

"The company representatives have already visited Macedonia and according to their statements thus far it is certain that the Tunisian company will come to the country to manufacture certain parts for Dräxlmaier", Gruevski told reporters.

"The Tunisians are Dräxlmaier's business partners, and open their own factories wherever Dräxlmaier does in favor of reducing the transportation costs," he said.

A member of the Elloumi Group, Coficab is a leader in the manufacturing and sales of automotive electrical cables and wires. It covers 13% of the global market and 30% of the market in Europe. In the last two decades, the company opened facilities in Portugal, Morocco and Romania.

Coficab produces cables and wires for Mercedes, Volkswagen, Peugeot, Citroen, Renault, Fiat, BMW, Opel, Ford...