Kharkiv Tractor Plant resumes operation after President's interference

Kharkiv Tractor Plant resumes operation after President's interference

Kharkiv Tractor Plant is resuming operation after Ukrainian President Petro Poroshenko's personal interference, Kharkiv Regional State Administration Head Yuliia Svitlychna has stated on her Facebook page.

“The situation involving Kharkiv Tractor Plant has been complicated but resolved after the Ukrainian President's interference into this matter. The enterprise is resuming operation. Industrial recovery in Kharkiv Region is our priority. I believe a new owner will fulfill all his commitments to the state and the labor collective,” Svitlychna wrote.

A reminder that Ukrainian businessman Oleksandr Yaroslavsky became an owner of Kharkiv Tractor Plant in March 2016. Currently, the plant is undergoing rehabilitation procedures. For this purpose, DCH Group opened a credit line worth UAH 400 million to replenish current assets.

On September 23, 2016, during an international economic forum in Kharkiv, Yaroslavsky stated that he intended to finance military equipment production.

“It is necessary to resolve all claims and issues related to Kharkiv Tractor Plant and resume production,” Yaroslavsky said, adding that he is ready to invest $300-500 million in Kharkiv Tractor Plant's development.


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