Italian multinational company Montante Group, which has announced its entry in industrial-development zone Bunardzik, is planning to open 100 jobs in the first year, the number reaching 300-400 in the coming years, said Prime Minister Nikola Gruevski on Sunday.

"The company will produce shock absorbers for industrial and railway vehicles. It has a long tradition, covers many markets and is present at almost all continents. The company wants to open a new plant in Macedonia, with an initial investment of about EUR 10 million, which could triple or quadruple later on", said Gruevski.

The company will start the plant construction by the end of 2014, due for completion in about a year.

"The company will have a significant effect on the country's exports, as well as lowering of the unemployment rate", added Gruevski.

Turin-based Montante Group has 2,300 employees and annual turnover of EUR 800 million.