Igor Gundych Signed Memorandum with Austrian Investors for EUR 112 million

Zhytomyr region has a chance to attract EUR 112 million and establish 1 full-scale enterprise, which will provide new jobs.

On 23 February, head of Zhytomyr Regional State Administration Igor Gundych discussed these matters with business representatives willing to invest in Zhytomyr region. In the course of the meeting, they signed a memorandum of cooperation and assistance in the implementation of the investment project.

“You can rely on our support, as we are interested in investments. We cooperate with business leaders in the form of sessions of the Board on Bringing Investment: they tell us about the problems that arise, and we assist in solving them”, – Igor Gundych said.

The company plans to produce bioethanol from corn, as well as corn oil and feed. The enterprise is high-tech and waste-free. The first production phase is supposed to create 100 jobs. In addition, the company will install a solar power plant.

“We will immediately meet with territorial authorities, put strict deadlines and start working. You can count on our comprehensive facilitation”, – Igor Gundych assured.

The regional state administration will assist in simplifying the bureaucratic procedures and search for a suitable land plot.

The Austrian company plans to implement one of the project stages in 1 year.

Note: there are two companies with Austrian investments in Zhytomyr region: Zhytomyr Cardboard Factory, LLC and Kromberg & Shubert Zhytomyr.

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