The Government of North Macedonia has ordered the Directorate of Free Zones to cancel contracts with two foreign companies for failing to begin construction on time.
The first contract was with the German Kessler giant, which was supposed to build a factory for manufacturing electric motors in Bunardzik and hire 150 highly-skilled workers.
The contract was signed in December 2017. The company will continue its operations in a rented facility, the Vesti website has reported.
The other contract was with the Sagen pharmaceuticals company. The company was the first Albanian company to sign an agreement on investing in Bunardzik in 2018.
According to the deal, EUR20m in investment was supposed to have been realized in two phases. The company was also supposed to employ 300 people.
The office of the deputy premier for economic issues, Fatmir Bitiqi, confirmed that the contract was scrapped because the company had not observed the deadline for beginning construction, but that new conditions were being prepared, based on which new agreements would be reached.