Three Industrial Parks Receive State Funding: Allocation and Use of Funds

by Roman Cheplyk
Wednesday, September 18, 2024
2 MIN
Three Industrial Parks Receive State Funding: Allocation and Use of Funds

Three additional industrial parks in Ukraine—”Korosten,” “BF Terminal,” and “Vinnytsia Industrial Park”—have secured state funding as part of the “Made in Ukraine” initiative

Funding Breakdown:

  • Korosten Park (Zhytomyr Oblast):

    • Total Funding Required: 167 million hryvnias
    • State Contribution: 83.5 million hryvnias
    • Purpose: Construction of an access road to facilitate transportation and improve connectivity to the park.
  • BF Terminal (Zakarpattia Region):

    • Total Project Cost: 316.6 million hryvnias
    • State Funding: 148 million hryvnias
    • Purpose: Construction of railway tracks and electrical infrastructure to enhance the park's logistical capabilities and support industrial activities.
  • Vinnytsia Industrial Park:

    • Total Project Cost: 232 million hryvnias
    • State Contribution: Approximately 116 million hryvnias
    • Purpose: Installation of roads within the park to improve internal transportation and accessibility for businesses operating within the park.

State Stimulation Program for Industrial Parks:

  • Objective: The program aims to provide financial support to industrial parks for building necessary infrastructure.
  • Funding Mechanism:
    • Provides up to 150 million hryvnias in funding to cover the construction of infrastructure such as landscaping and transport facilities.
    • The state covers up to 50% of the estimated cost for general projects and up to 80% for projects in de-occupied territories.
    • The funding is non-refundable and includes compensation for up to 50% of the cost of connecting to the power grid.

This initiative is part of the government's efforts to bolster industrial growth and infrastructure development, thereby fostering a conducive environment for domestic manufacturing and industrial expansion in Ukraine.

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