The South Korean company Caris plans to build a plant in Ukraine for manufacturing of road safety fences from recycled plastic worth more than $60 million, considering the Stryi district of Lviv region as a site, according to the website of the city council of Stryi.
According to the press service, Mayor of Stryi Oleh Kanivets last week signed a memorandum with Caris CEO Yu Cheol during his business trip to Kyiv.
“The company plans to build factories in Ukraine for the production of plastic road safety fences. We are ready to create about 900 jobs. Stryi territorial community is interesting for its convenient logistics location and proximity to the European market,” the press service said.
In turn, the press service of the Ministry of Economy also announced the plans of Caris to build a $60 million plant in Ukraine for the production of road safety fences.
According to the report, on June 11, Deputy Economy Minister Iryna Novikova met with Yu Cheol.
“There is a hope that the project will be able to take advantage of new government support for projects with substantial investment, since it provides for $60 million in investments and the creation of new jobs. Investment projects that take into account environmental issues are important for us,” Novikova said.
The press service of the Ukrainian Chamber of Commerce and Industry also reported about its support of this project.
“We will accompany this project, and we will use all the possibilities of the Chamber of Commerce and Industry so that the investor does not regret any dollar invested in Ukraine,” the press service said, citing President of the Chamber of Commerce and Industry Hennadiy Chyzhykov.
According to the Chamber of Commerce and Industry, the representative office of Caris in Ukraine is headed by ex-head of the State Finance Institution for Innovations (SFII) Volodymyr Stavniuk.
In January 2020, the Korean company announced on its website that it had signed an agreement with SFII for the construction of a plant for the production of plastic fences in Ukraine. In particular, the agreement provided for the creation of a PVC production and technology joint venture. Investments in the construction of the plant were projected in the amount of $100 million.
According to the public register, in December 2019, Caris Ukraine LLC was registered in Ukraine, 51% of which is owned by Yu Cheol through Caris, another 49% is owned by Vladlen Levchuk through Socrat Development LLC.
