The Government Signed an Agreement for the Construction of a Processing Plant in Cherkasy Region for 650 Million UAH

The Cabinet of Ministers of Ukraine has signed a special investment agreement with the company “Fidnova Center” regarding the implementation of a large-scale project for the construction of a complex for processing livestock waste in the Cherkasy region. The new plant will specialize in the production of high-protein feed additives and animal fats.

This is reported by AgroReview

Government Support and Investments

The total investment in the construction of the enterprise will amount to 649.7 million UAH. As part of the project, the creation of over 80 new jobs is planned, which will be a significant contribution to the development of the region and an increase in the employment level of the population.

The terms of the investment agreement provide for state support in the amount of 172 million UAH. In particular, the enterprise will receive:

• exemption from customs duties and value-added tax when importing new equipment;
• compensation for expenses related to the construction of engineering and transport infrastructure, including highways, communication networks, and electricity, gas, water, and heat supply;
• exemption from corporate profit tax.

“The agreement was concluded within the framework of the initiative to support projects with significant investments, which are entitled to a number of benefits under the so-called ‘investment nanny’ law.”

Other Projects Under the Investment Nanny Law

This agreement is the fourth under the action of the law supporting significant investments. Among the already concluded agreements are the project for the construction of a soybean meal processing plant, the creation of the largest water park in Eastern Europe at the Bukovel ski resort, as well as two projects related to the development of the GORO Mountain Resort ski area.