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Kostal Macedonia launches 50 million euros investment cycle that includes 250 new jobs

11 december 2024

German automotive parts manufacturer Kostal has announced the launch of an ambitious investment project in northern Macedonia that will expand the company's production capacity in the country and create 250 new jobs by 2028. A total of 50 million euros will be invested in this new stage of growth, Balkanengineer.com has learned from a statement by Viktor Mizo, managing director of Kostal Macedonia.

The project includes the new production of components for plug-in hybrid and electric vehicles for Volkswagen, as well as systems and roof modules for Mercedes. The expansion of production capacity will contribute to the company's increasing exports, which are expected to exceed 200 million euros in 2025 and reach over 500 million euros by the end of the decade.

The investment will also lead to an expansion of the workforce: currently Kostal Macedonia has 1 150 employees at the Ohrid plant, and with the new investment cycle the number will increase by another 250 people. This will support the development of the region and provide new opportunities for residents.

 

Kostal began its manufacturing operations in North Macedonia in 2016 and is already one of the country's leading export companies, exporting more than 128 million euros worth of products in 2023. By increasing production capacity and investing in new technologies, Kostal aims to strengthen its position not only in the North Macedonian market but also internationally.

The project is part of the German giant's wider strategy to adapt its production to the new demands of the automotive industry and ensure innovation in the region. According to Mizo, the new technologies that will be implemented will have a long-term effect on the economy of North Macedonia and will lead to stable economic benefits for the country.

Photo source: ©Engineer BG via Canva.com

 

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