The development company Alterra Group will build the Formation.Vinnytsia industrial park (IP) based on the Quadruple Helix model, with total investment in the project estimated at UAH 6 billion, the company’s press service told Interfax-Ukraine.
“The Formation.Vinnytsia industrial park is the second project in our Formation series of parks. The first one, which we are implementing in Lviv, has already proven the effectiveness of our model — a full-fledged ecosystem for manufacturers with the integration of the Quadruple Helix Model,” said Alterra Group CEO Dmytro Kovalchuk during the project presentation in Vinnytsia.
As reported, in early 2025, investor Boris Shestopalov of Volia Agri-food Park Vinnytsia (Vinnytsia Industrial Park) brought commercial real estate developer Alterra Group on board as a strategic partner for the construction of the industrial park. According to the OpenDataBot service, Yuparks LLC sold 75% of the authorized capital of Alterra Group LLC.
UPARKS began construction of the industrial park in August 2023. The Volia Agri-Food Park Vinnytsia project received approximately UAH 116 million in state support in 2024.
According to Alterra Group, as of May 2025, roads and sewage systems have already been connected to the industrial park, and a wide highway is currently being laid there. The total investment in the project, which is scheduled for completion by 2029, is estimated at UAH 6 billion.
The area of “Formation.Vinnytsia” will cover 175,000 square meters, where about 50 companies can be located. The Quadruple Helix model provides for cooperation between education, business, government, and society to create innovations. According to this concept, there are plans to create an innovation and technology development center, which will include a prototyping laboratory with professional equipment for creating prototypes, an R&D center for developing new products, and a business incubator for manufacturing startups. The IP is expected to create about 3,500 jobs, and cooperation with universities will allow educational programs to be adapted to the real needs of business.
“We are particularly interested in the development of food processing, the automotive engineering and components sector, and related areas. At the same time, we are open to other industries if their activities fit harmoniously into the overall ecosystem of the park and contribute to mutually beneficial coexistence,” Alterra Group said.
Another feature of the project is that the management company will help residents to export their products thanks to its membership in European chambers of commerce and industry, promising preferential terms for participation in international exhibitions and communication with potential foreign partners. As specified to Interfax-Ukraine, this service will be available to park residents by the end of this year.
The future infrastructure of the ID includes facilities aimed not only at residents but also at the community as a whole. An apart-hotel, a canteen, a gym, a supermarket, a sports ground, a customer center, and a shelter are planned.
Alterra Group LLC was established in 2016 with a statutory fund of UAH 5 million. The ultimate beneficiary is Dmytro Kovalchuk. The company’s portfolio includes nine projects, of which 107,868 square meters have already been commissioned, and 108,900 square meters will be ready in 2025. According to OpenDataBot, in 2024, the company received UAH 236,969,700 in revenue, which is twice as much as in 2023, and reduced its net loss by 1.7 times to UAH 699,300.
Alterra Group, INDUSTRIAL PARK, VINNYTSIA
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