The construction of a plant in the Cherkasy region will receive government assistance: how the investment project support program works
26 August 18:35
Analysis 
Fidnova Center, LLC became the first company to take advantage of the customs and tax incentives offered under the government program to support projects involving significant investments (“Investnanya”). The company is building a modern plant in the Cherkasy region to process "Komersant Ukrainian" investigated how this partnership mechanism works.
The program to support projects involving significant investments is part of the state’s “Made in Ukraine” policy. Under this policy, investment projects worth more than 12 million euros can count on state compensation of up to 30% of capital investments through various support mechanisms, including, in particular, exemption from income tax, import duties, and import VAT on new equipment. Fidnova Center LLC was the first to receive permission to import new production equipment without paying import duties or value-added tax.
On Cooperation with the Government
Fidnova Center is part of the EFI Group, an investment group led by entrepreneur Igor Liski. Together with its Dutch partners, the company is implementing a project to build a modern plant for processing livestock by-products in the Zvenyhorodsky District of the Cherkasy Region. The start of construction was announced in October 2025. That same month, a government decision was issued regarding the conclusion of a special investment agreement between the Cabinet of Ministers and Fidnova Center LLC.
According to the Ministry of Economy, as part of state support, the investor will receive an exemption from import duties totaling approximately 7.8 million UAH and an exemption from VAT on imported equipment totaling over 45 million UAH. The project also provides for income tax incentives and compensation for the cost of engineering and transportation infrastructure facilities.
In a comment to the publication
“Overall, we didn’t encounter any difficulties at any stage of our collaboration. However, the preparatory work with customs took quite a long time. Under three contracts, we are importing over 300 items of equipment. Customs authorities inspected each item, including the details of its description and technical specifications. This preparatory work alone took over 2.5 months. Of course, we would have liked the customs clearance process to be less time-consuming for those partners working with the government who have signed special investment agreements. “In September, we will import the first piece of equipment under the Cabinet of Ministers resolution that has already been signed, and we will receive a partial exemption from VAT and customs duties at that time,” the official noted.
He reported that the initial investment amounts to over 14 million euros, including VAT.
“This is the budget specified in our documents and the special investment agreement. At the same time, given inflation and changes in the cost of labor and equipment, the actual investment amount may increase,” stated Samvel Ramazyan.
The total amount of expected state support, according to him, is 172,090,356 hryvnias. Thus, under the agreement, the enterprise is entitled to:
– an exemption from value-added tax on new equipment and its components;
– an exemption from income tax;
– exemption from import duties on new equipment and its components;
– compensation, funded from the state budget, for the cost of constructed engineering and transportation infrastructure facilities.
About the Construction of a New Plant
The new plant in Cherkasy Oblast will be the second facility of its kind under the Feednova brand. The first such plant, which manufactures high-protein feed additives for animal fattening, opened in June 2021 in Busk, Lviv Oblast. The new facility is scheduled to begin operations in the first quarter of 2027. Samvel Ramazyan, Director of Development at the investment and industrial company EFI Group, elaborates.
“Construction work at the facility is already in its final stages. The framework of the main production building is complete, wastewater treatment facilities are being built at full speed, and utility networks are being laid within the site. We are currently working to obtain the technical specifications for connecting to gas, electricity, and water, and we are conducting tenders to select contractors. We plan to complete the installation of external utility networks this year. “The plant is scheduled to begin operations in the first quarter of 2027,” the official noted.
He explained that the new plant will produce animal fats and high-protein feed additives. These products will be used as raw materials for the production of compound feed, pet food, and biofuels. The finished products will primarily be exported, with EU countries serving as the main buyers. Additionally, connections are already being established in Asian markets.
About Other EFI Group Projects
The investment group first and foremost highlighted its active work on the NovaSklo project—the country’s first modern plant to manufacture float glass. The plant is currently in the final stages of design. EFI Group is also finalizing a complete set of documents to submit to the Ministry of Economy for the signing of a special investment agreement. The total investment in the glass plant amounts to over 260 million euros.
The investment and industrial company EFI Group, together with its partners, is also implementing the Pulp Master project to produce eco-friendly tableware and food packaging made from plant-based cellulose. The first phase of production facilities has already begun operations in Zhytomyr and has reached an annual output of 50 million units. In the first quarter of 2028, the company plans to launch the second phase and double production to 100 million units per year.
