A New Tractor Factory is Planned to Open in Ukraine with the Support of Korean Investors
A modern tractor factory may emerge in Ukraine, as discussed during a meeting with representatives of the Korean company LS Group. The launch of this factory could be an important step for investments and for the recovery of the country’s agricultural sector.
This is reported by AgroReview
Since the beginning of the full-scale invasion by Russia, Ukraine has lost over 8,000 units of equipment, including more than 1,000 tractors. This was confirmed by Koval, who noted that the Ministry of Agrarian Policy and Food is continuously working on modernizing the material and technical base of the agricultural sector.
“We are interested in the long-term experience and advanced technologies of LS Group in agricultural machinery production, which they are ready to integrate into production in Ukraine,” emphasized Koval.
Korean investors are already actively seeking potential partners for the implementation of this project, and the Ministry of Agrarian Policy is facilitating cooperation in the format of a joint Ukrainian-Korean enterprise.
Cooperation in Bioenergy and Technologies
In addition to the construction of the factory, the management of LS Group also discussed opportunities for implementing bioenergy projects in Ukraine, particularly the production of bioethanol, and the establishment of a technology center for manufacturing engines for agricultural machinery.
“I am confident this is just the beginning of our cooperation. The construction of the tractor factory will strengthen our industrial base, create new jobs, and enhance Ukraine’s position as a producer of high-quality agricultural machinery. Moreover, it will increase domestic production of agricultural equipment,” summarized Koval.
For reference: LS Group is one of the leading players in the South Korean industry, known for its tractors with power ranging from 30 to 150 horsepower. It is worth noting that the Ministry of Economy has expanded the list of Ukrainian equipment and machinery for the agro-industrial complex for the second time this year, 25% of the cost of which is compensated by the state. The list has been supplemented with 62 new items, allowing farmers and agro-processors to choose from 11,910 units of equipment.