The management company for the Syhnivka Industrial Park in Lviv has been selected

4 October 2023

Following an open selection process, the competition commission of the Lviv City Council has chosen “Formatsiia Syhnivka” LLC as the management company for the Syhnivka Industrial Park. The park’s concept was developed in collaboration with Kyiv School of Economics. 

In the next phase of the project, the competition winner will be officially approved by the Lviv City Council, and an agreement will be signed with them, the text of which must also be approved in advance by the deputies of the City Council.

Once the agreement is in place, construction for the first phase of the project is expected to take one year. The entire project is allotted a total of up to ten years for implementation.

“Formatsiia Syhnivka” LLC is part of the “Altera Group” group of companies. The company has prior experience in constructing the PORT logistics centre in Lviv, as well as production, logistics, and office complexes in Kyiv and Dnipro. 

The concept of the Syhnivka Industrial Park, developed in collaboration with KSE, aims to attract a total investment of at least 5 billion UAH. Preliminary calculations show that after the construction is completed and fully utilized, individual entrepreneurs could generate an annual income of UAH 3.25 billion, with exports of goods, services, and works amounting to UAH 1.5 billion.

According to the concept, the industrial park will be situated on five communal land plots covering a total area of 30 hectares in the industrial zone of the Zaliznychnyi district of Lviv. The park is intended to operate for 50 years. 

The Syhnivka Industrial Park is anticipated to create a minimum of 3,600 jobs. Preliminary estimates suggest that the park’s activities could boost annual tax revenues for the Lviv city budget by UAH 250 million and contribute over UAH 430 million to the state budget.

The implementation of the industrial park’s concept is undertaken in partnership with the Lviv City Council, as part of the Good Governance Fund project “Revitalization of the Business Climate in Ukraine,” which is supported by the UK government (UK Aid). Abt Britain and Kyiv School of Economics are the project implementers.