Business news from Ukraine


20 September , 2019  

Vinnytsia authorities plan to launch the first phase of an innovation and technology park in the territory of Krystal (Crystal) plant in 2021, investment in the project is estimated at UAH 200 million, the director of the Vinnytsia City Council economy and investment department, Vitaliy Pohosian, has told Interfax-Ukraine.

“This is the former industrial territory of the giant plant Krystal. It is now operating, but to a lesser extent, so we took unused buildings into municipal ownership … The project [of an innovation and technological park] is fully funded by the city budget. The cost is estimated at approximately UAH 200 million. We’ve received permission from the State Architectural and Construction Inspectorate. We don’t focus on getting the maximum rental income, it’s important for us to fill the park with high quality residents,” Pohosian said on the sidelines of the conference on industrial construction Industrial 2.0 in Kyiv.

According to him, the total area of the park will be 8,500 square meters, the height is three floors. It will include more than 100 offices for 1,000 people. It will host the Center for Enterprise Development, co-working space, an event zone, an office center, a startup accelerator, the first children’s technological park, etc.

“We are creating an eco-system for creative industries in the city. Donetsk National University is operating next to the facility, which moved to us from Donetsk. Therefore, it will be a win-win system – employers will be able to get qualified workers, and students will get job,” he noted.

As expected, the park will be commissioned in stages starting in 2021.