Euro 3.5 million will be invested by the Bulgarian company "Filkab" in a plant for production of electrical equipment thus opening 100 jobs.

The decision for investing was announced Friday by Minister for Foreign Investments Jerry Naumoff and the management of the company, which is present on the Macedonian market for 10 years.

The plant will be built on an area of 10.000 square meters in the Skopje municipality of Butel and will manufacture power transmission substations. Its products will be intended for the local market.

"The company's investment in Macedonia is a sign of trust in our economy and the government's policy," stated Naumoff.

After the first contact was established a year ago, he added, with hard work in the past five months and with support from the premier, adequate solutions were found for the project to become a reality.

"This investment will be a significant economic incentive for the region of Skopje because it will open over 50 jobs in the early stage with a possibility for more than 100 jobs when the plant will work with its full capacity. The project will also be beneficial for the local Macedonian companies that will carry out construction works," minister Naumoff said.

He expressed hope that this successful story would motivate other Bulgarian companies willing to expand their operations in the region and beyond.

"Filkab" so far has invested nearly one million euros in a property, projects and warehouses. "We believe that by deciding to erect our own production and logistical capacity in Macedonia we will manage to strengthen our position not only on the local market, but also this capacity will serve as a basic logistical center supplying all Western Balkan markets," said Mile Saoski - the company's official.

Founded in 1999, "Flab" has since spread outside Bulgaria, namely in Romania, Greece, Cyprus, Germany, Albania and Kosovo and Macedonia.