Future Industry Hub industrial park with investments of about UAH 1 bln will specialize in meat processing

Future Industry Hub industrial park in Khmelnytsky region, registered by the government last week, intends to become a powerful hub of the meat processing industry: on an area of 10 hectares, investors will create enterprises for processing pork and chicken and place a complex for the production of semi-finished meat products, sausages and canned goods and a refrigeration workshop for storing meat, the VITAGRO group of companies told the Interfax-Ukraine agency.

"The total investment in the project is estimated at UAH 1 billion, part of which is the VITAGRO group of companies' own funds," the group noted.

It is specified that own funds will be directed to preparatory and earthworks on the site, design, network connection, infrastructure preparation of the facility, approval and commissioning, and investors plan to complete this stage by the end of 2025. In parallel, the VITAGRO group of companies is working with future residents of the industrial park and will attract additional investments from them.

"Our task is to create conditions under which in Ukraine as a whole and in Khmelnytsky region there will be more innovative and environmentally friendly enterprises that provide deep processing of livestock products and create more added value. This will allow the Ukrainian economy to gradually become high-tech in terms of raw materials," said Serhiy Savchuk, Director of Development and Investments of the VITAGRO group of companies.

According to the terms of the project, at least 350 jobs will be created in the Future Industry Hub, of which about 300 are employees of industrial enterprises of the industrial park, and the remaining 50 are administrative personnel. According to the initiators, wages in the industrial park are planned to be 30-45% higher than the average wage in the region.

The group added that after the full commissioning and construction of all enterprises, thanks to the industrial park, the local budget of the Volochysk territorial community of Khmelnytsky region will annually receive more than UAH 13 million in taxes and other deductions.

VITAGRO is one of the largest Ukrainian groups with assets in the agricultural, energy, processing, construction and chemical industries, operating since 1998. The group owns enterprises in Khmelnytsky, Rivne, Volyn, Ivano-Frankivsk and Kyiv regions. Its land bank is about 90,000 hectares. The group is also engaged in animal husbandry, horticulture, renewable energy, production of fertilizers and compound feed, as well as construction and production of construction materials. The main office of VITAGRO is located in Khmelnytsky.