The Indian investment concerning the production of automotive industry cables, Malhotra Cables, was announced by the Nikola Gruevski, the leader of VMRO-DPMNE, in December 2016, three days prior to the early parliamentary elections.
He announced on his Facebook profile that the company would invest in Macedonia by building its own production facility in the Technological Industrial Development Zone in Skopje, which would generate 100 jobs and that the facility would be built in the next three months, and that it would be completed by the end of 2017.
“It is a 10 million dollar investment by a company that produces cables and raw materials used in the automotive industry, and acts as a supplier for large companies. This is their first investment in Europe and the production will be placed on the European market, which means development and inflow of fresh funds in the Macedonian economy. The initial contact and discussion on the investment were made by the Director of the Directorate for Technological Industrial Development Zones, Victor Mizo”, stated Gruevski.
The company was established in Macedonia in September 2016, with a cash deposit of 5 thousand euros.