Feb 15, 2021

Kyiv City Council resolved to sell land plot to Farmak plant

On February 11, 2021 the Kyiv City Council resolved to sell a land plot to Farmak plant. The resolution was adopted by an absolute majority vote. It concerns the territory where the Kyiv Chemical and Pharmaceutical Plant has been located for 95 years. According to the document, the intended purpose of the land plot is operation and maintenance of the complex of buildings and facilities.

 Farmak has called the resolution of the Kyiv City Council deputies “quite logical” and shared its plans concerning the land plot.

“Farmak is grateful to the deputies for supporting the development of a good-faith and transparent business. In total, Farmak has invested more than USD 300 million in the modernisation of the Company over the last 25 years. Manufacturing facilities, R&D facilities, laboratory and technological complex are certified according to the international standards and meet high requirements of the European standards. Now, due to the favourable resolution of the City Council, we will be able to implement another ambitious project, namely the launch of a pharmaceutical R&D cluster to build up scientific and technical potential,” says Volodymyr Kostiuk, Chief Executive Officer of the Company.

It should be noted that in 2015 the Company launched its own API manufacturing facilities in Shostka based on Svema Industrial Park. Investments in the construction of the plant amounted to USD 40 million, of which more than USD 500,000 were spent on the advanced treatment facilities. Thus, the potentially hazardous chemical manufacturing facilities have not only been relocated outside Kyiv, but also located in a specially designated industrial area.

“The development of a pharmaceutical cluster is not only a step towards the development of the biomedical R&D industry in Ukraine. It is also an important step towards transforming Kyiv into a European-level capital,” says Andriy Goy, Farmak’s Technical Director.

Farmak believes that the launch of the R&D cluster will contribute to increasing the contributions to the city budget from knowledge-intensive industries.

“It is the intellectual product that should be the capital’s main asset,” notes Andriy Goy.

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