A solemn ceremony marked the continuation of production at the company NewCo Feroniklu, in the Kosovo municipality of Glogovac, whose investor is the Turkish company Yildirim Holding, Anatolia reports.
Production was restored after a two-year interruption due to the crisis on the international energy market.
The ceremony was attended by the Ambassador of Turkey to Kosovo, Sabri Tunc Angili, together with the Minister of Regional Development of Kosovo, Fikrim Damko.
Damka stated that Feronikl, as an investment in heavy industry, with the work and focused strategy of the Turkish investor Yildirim Holding, will once again be the largest and most prestigious metallurgical factory in Kosovo, the Ministry of Regional Development announced.
“Attracting foreign direct investment is one of the most important strategies for developing countries to increase capital formation in order to generate a larger amount of GDP,” said Damka and added that Kosovo has great potential to become a popular country for direct foreign investment, as well as attract capital, information and technology.
“Ferronikel, which is among the greatest assets of Kosovo, with this investment will add even more value to itself as well as to the national and regional sphere. Without a doubt, Feronikel, which is the source of existence of thousands of families, will also contribute to the well-being of the Republic of Kosovo in the micro and macro aspects, contributing to its strengthening “, stated the Minister of Regional Development.
He emphasized the essential role of Turkish investors during the last years who have contributed to the economy of Kosovo. He stated that investors from Turkey can be seen in many sectors, such as banking, airport management, energy, manufacturing and services.
“As we have witnessed in many areas, Turkiye is one of our main partners in the field of economy and will continue to increase investments in our country,” said Damka.
About 800 workers are employed in Feroniklo.
Ownership of the new company Feronikl was taken over by Yildirim Group from Balfin Group at the beginning of June 2022.
The new company Feronikl is one of the largest producers of ferronikl in Europe. The company is a strategic asset for the Republic of Kosovo, of great importance and with a significant impact on the macroeconomics. Founded in 1984, the new Feronikl complex includes a two-line nickel production facility and potentially rich mineral deposits beneath the surrounding landscape.
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