The establishment of the first subterranean industrial park in Ukraine has been announced in the Kharkiv region. The initiative arose after mass shelling caused significant damage to local businesses and drastically reduced the number of operational enterprises in the area.
This is reported by Finway
Business Recovery After Destruction
Andriy Savran, the director of a bicycle manufacturing company, reported that in February 2022, due to Russian shelling, the enterprise in Kharkiv region was completely destroyed, with total losses reaching 60 million hryvnias. Over the course of a year and a half, the company was forced to relocate its production to Ternopil region, but later returned to its home region despite the challenging situation.
Unique Subterranean Industrial Park
Today, out of the 15 enterprises that were part of the industrial cluster in Kharkiv region, only three remain operational in the fields of machine engineering, metalworking, hydraulic systems, and school furniture manufacturing.
To preserve jobs and support the industry, a decision has been made to create a subterranean industrial park. There are only five similar industrial facilities in the world. The new park is planned to be an autonomous space for enterprises operating under critical conditions. The project has received support from international investors.
Currently, Kharkiv entrepreneurs are facing a lack of grants and government support due to being located in a “red zone,” so the initiative to create a subterranean park is expected to be crucial for preserving the region’s industry.
The creation of the subterranean park is seen as an important step towards ensuring stable business operations and maintaining the economic potential of Kharkiv region in the face of ongoing threats.