SKOPJE (Macedonia), February 8 (SeeNews) - Slovakia's Holz-consulting will build a 10 million euro ($10.7 million) factory in Macedonia for production of fuel pellets from agricultural and forestry waste, Skopje-based media reported.
State-owned forestry company Makedonski sumi has signed a memorandum of cooperation with the Slovak pellet and pellet stoves producer, under which the Macedonian company will provide raw materials, as well as logistic assistance for the construction of the factory, broadcaster Sitel reported on Tuesday.
The biomass pellets will be made from the waste of forestry and agricultural activities, which was not used until now, Sitel quoted Macedonia's deputy economy minister Hristijan Delev as saying at the signing ceremony.
The new factory will open 500 jobs.
Holz-consulting is discussing two possible locations for the factory and will make a decision within the next two weeks.
Holz-consulting plans to export the fuel pellets mainly to Italy, while some five to seven percent of the output will be destined for the needs of Macedonian customers. The company plans to use raw materials not only originating in Macedonia but also to import them from the U.S. and Ukraine.
Holz-consulting plans to build a plant producing pellet stoves in Macedonia afterwards.
Holz-consulting is based in Trencin, in northwestern Slovakia. The company was established in 2012.
($ = 0.9345 euro)