Business news from Ukraine


26 December , 2017  

Ukrainian Sawmills, a company with Swedish investment, on December 21 opened a first woodworking plant in Kostopil (Rivne region) to produce pine sawn timber for production of furniture, joinery and construction materials, the press service of Rivne Regional Administration has reported.
“We are launching the plant in Kostopil and finish the initial phase of our investment project. Ukrainian Sawmills is a high-tech production facility with a capacity of 300,000 cubic meters of products meeting European quality standards. We invested about EUR 25 million in this project and created 150 jobs in Kostopil,” the press service said, citing Swedish co-founder of the company Johan Dunbäck.
The plant was opened by Ukrainian Deputy Prime Minister and Minister for Regional Development, Construction, Housing and Utility Services Hennadiy Zubko, his Deputy Lev Partskhaladze and Head of Rivne Regional Administration Oleksiy Muliarenko.
According to the press release, the implementation of the project became possible after the introduction of a moratorium on the export of unprocessed wood in the country, which was a decisive factor for investors.
“The opening of this enterprise proves that Rivne region is interesting for investors and it is comfortable for them to work here. We will be able to abandon the primitive export of wood, but we will process it ourselves, creating new jobs, filling local budgets and developing the woodworking industry in the region,” Muliarenko said.