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Zhytomyr Region provides demands of Ukraine and foreign countries in titanic concentrate. The deposit of quartzite is unique one, where it is concentrated almost 89% of national supplies.
The present stage of regional economy development as Ukraine on the whole is characterized by high level of industrial production.
On the region's territory there is diversified industrial production. Zhytomyr Region is a leader in Ukraine in such production as china tableware (68,1%), legwear (28,2%), saw-timber (18%) and shoe (24,2%). Basic industries are follows as food industry which share in general industrial production volume is 32,1%, machine-building and metal-working – 12,6%, extractive – 12,7%, production of non-metal mineral wares – 8,7%, light – 5,1%, woodworking and cellulose-paper – 9%.
By results of activity of the industrial sector of economy Zhytomyr Region takes 15 place in the country in 2007 (growth rates of production – 109,1%). On the whole, the growth rates of industrial production was provided in cellulose-paper industry (125,8%), machine-building (122,3%), chemical (117,8%) and extractive industry (166,7%) and also wood production and processing (111,1%).
Production activity of the region has agrarian direction. The reformed agricultural industry has been developing dynamically. Next to growing cereals, sugar beets and potato the region takes leading place in Ukraine by production of hop, flax and chicory. Important place belongs to the purveyance and processing of medical raw material.
The improvement of the financial state of regional enterprises extended their investment opportunities. More than half of investment resources of the industry are directed in updating equipment, development of production and introduction of innovations. New technological processes are introduced and new types of innovation products are mastered. The enterprises of food, chemical industry and machine-building are most innovative-active.
The positive tendency to growth of investments in the regional economy is observed. For nine months of 2007 due to all sources of financing it was mastered UAH 1 418,0 mln. of investments in the fixed assets that is by 50,4% higher than for proper period of the last year.
The foreign investors started to actively operate here. In January-September, 2007 the economy of Zhytomyr Region got direct foreign investments to the amount of USD 21,8 mln., including from the CIS – USD 2,7 mln. (12,6% of the general volume) and other countries of the world – USD 19,1 mln. (87,4%).
The volume of direct foreign investments in the economy of Zhytomyr Region made USD 144,6 mln. as of October 1, 2007. Investments came from 43 countries of the world: Cyprus, Switzerland, United Kingdom, Italy, Germany, Netherlands, USA and Russia covering almost 80% of the general volume of direct foreign investments or USD 112,4 mln.
Investment attractive spheres for foreign partners are follows as production of food industry – USD 24 mln. (16,6% of the general volume), production of non-metallic mineral goods – USD 17,6 mln. (12,2%), woodworking and production of wood wares – USD 15,9 mln. (11%), operations with the real estate, rent, engineering and services to businessmen – USD 14,9 mln. (10,3%), enterprises of chemical and petrochemical industry (chemical production, production of rubber and plastic goods) – USD 13,0 mln. (9%), enterprises of extractive industry – USD 12,9 mln. (8,0%), metallurgical production and production of finished steel wares – USD 12,1 mln. (8,4%).
Today many strategic investment projects are developed in the region. On the territory of Novograd-Volynsky District, Cersanit Invest Ltd develops investment project of Polish Company CERSANIT «Organization of production of ceramic sanitary wares» with estimate cost over EURO 100mln. It is foreseen to create 1200 new jobs and output of 12 mln. sq. m of ceramic tile and 2 mln. items of sanitary engineering wares after commission of the enterprise. Assembling of technological equipment of the first turn of the plant (EURO 80 mln.) is finished today. 240 jobs were created. It is planned to start production in first half-year of 2008.
In Volodarsk-Volynsky District Valky-Ilmenite Ltd develops investment project «Building of open-cast and commissioning of processing complex in Valky-Gatskivsky ilmenite basin». The estimate cost of the project made USD 6,67 mln. Today they have already invested USD 6,74 mln. of funds, including 60% – foreign. 115 new jobs were created and seven existent jobs were kept there. For time of project development they sold products to the amount of UAH 118,5 mln. and UAH 12,2 mln. came in budgets of all levels. The memorandum of understanding by financing project to the amount of USD 5 mln. was signed.
Subsidiary «Eurogold Industries Ltd» (Zhytomyr) has been operating since 2002 and develops investment project on output of commodities of public consumption (ironing boards, dryers for linen and household ladder). The sum of investments makes over USD 8 mln. Annual production volume is UAH 9 mln. Today 650 workers are employed in the enterprise. The number of workers has been increased by 100 persons for the last three years.
All products are made of home raw material. On the whole, the company has 95 suppliers of minerals, materials and components, including 23 enterprises in Zhytomyr. 97% of products are exported to the European countries, North Africa, Saudi Arabia, USA and Japan.
The enterprise constantly extends its investment resources. Increasing production capacity, Subsidiary «Eurogold Industries Ltd» at expense of own funds, plans to attract additional investment resources to the amount almost UAH 3 mln. and create 300 jobs.
The investment project of Subsidiary «Premdoor-Ukraine» «Production of squared beam, internal and external doors» is developed in Berdychiv District. Subsidiary «Premdoor-Ukraine» enters International Group Masonite International (Canada) that is investor of this project. For time of project development they received USD 70 mln. and created 240 jobs.
CJSC «Intertile» develops investment project on production of ceramic granite tile in Korosten. The enterprise plans to commission eight lines with the general capacity of 20 mln. sq. m of ceramic granite. The cost of project makes almost EURO 100 mln. and over 1200 jobs will be created here. In December, 2007 the act of state commission has been signed and the enterprise was included to the basic circle. The sum of capital investments makes EURO 20 mln. The volume of products on the first stage makes about 120 000-130 000 sq. m of ceramic granite. 190 jobs were created. The production volume of goods in 2008 will make UAH 160 mln.
Myarkis Ltd (Berdychiv District) develops project on making textile and treatment of polyester fibre with the estimate cost of USD 5 mln. Almost UAH 2,4 mln. has been already attracted and 32 jobs were created. Last year they have already made products to the amount over UAH 3,0 mln. With the purpose of increasing production output it is planned to mount the second technological line.
«PA Tekhna» Ltd develops project on production of machines and mechanisms for agroindustrial complex in Novograd-Volynsky. The sum of investments will make USD 25,5 mln. and 807 new jobs were created. For times of project development it was sold products to the amount of UAH 195 mln. and almost UAH 10 mln. came to the budgets of all levels.
The project on production of panels in Subsidiary «RITM» is developed in Berdychiv. Within the project USD 730 000 has been already attracted and 55 new jobs were created. For time of project development it was sold products to the amount of UAH 212,1 mln. and over UAH 38 mln. came to the budgets of all levels. The enterprise has ISO 14000 certificate.
On the territory of Korosten District, CJSC «International Corporation of Alternative Fuel Producers» started development of investment project on forming full technological cycle of production of alternative fuel foreseeing growing of cereals, oil-bearing crops, production of silo and dry biomass and production of ecologically friendly fuel on the basis of introduction of modern technologies. The general cost of the project is almost EURO 40 mln.
Olvita-Bud Ltd develops project on building of multi-storyed housing complex in Zhytomyr District.
Zhytomyr Region is a region with great prospects of development. Sustainable development of regional economy, attraction of all present internal and external facilities in the economy enable to form huge investment resources of the region, to solve many social problems, to create new jobs, to introduce hi-tech processes on output of competitive products, to provide additional incomes to all levels of budget of our country.
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