DCH Group seeks to invest UAH 200 mln in Kharkiv Tractor Plant

DCH Group seeks to invest UAH 200 mln in Kharkiv Tractor PlantThe owner and president of DCH Group Oleksandr Yaroslavsky who holds a controlling stake in Kharkiv Tractor Plant seeks to invest around UAH 200 million in the enterprise.

"I plan to invest near UAH 200 million in Kharkiv Tractor Plant. The plant could be restored within six months," he said in an interview with Forbes Ukraine publication.

The businessman said that he sees the plant producing tractors, and if the company receives an order from the state – military equipment that the plant made 20 years ago: multipurpose lightly-armored transporters.

Asked about the possible modernization of the plant, he said that it would be conducted if it suits business plan.

"Modernization is a manmade process. If there were order from the state to make military equipment one can do everything… I bought the asset with a focus on production of tractors. If I need to increase production or change the processes, I will take my old business plan when I was the owner of the plant, dust it off and start implementing. I do not need research institutions and dozen-year work," he said.

Yaroslavsky said that Ukraine, Russia and even Cuba buy tractors made by Kharkiv Tractor Plant.

Explaining the debt structure to banks, he said that early June a one-year debt rescheduling plan was signed with banks.

"Earlier an amicable agreement with Ukreximbank was signed. It included payments of debts starting from 2035 during 30 years," he said.

He said that the rest of the plant's debts are debts to the tax service.

"Taxpayers accrued UAH 400 million, while in fact this is UAH 109 million to be paid in installments, according to all documents and the payment terms agreed earlier," the businessman said.
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