Thursday, May 22, 2008

Industrial Policy Ministry learning prospects for building up Eurocar output to 100,000 vehicles a year

The EuroCar plant is a real example of drawing foreign investments in Ukraine, Deputy Minister of Industrial Policy Viktor Padalko said, speaking about the work of the ministry's experiment team, which visited closed joint stock company EuroCar in Zakarpattia region and considered a report on implementation of the program for boosting production capacities and creation of new jobs at the enterprise.

The experts, together with the company heads, examined economic prerequisites and prospects for bringing EuroCar's general capacity to the production of up to 100,000 vehicles a year, EuroCar press service told. Last year, a little less than 30,000 vehicles were made at the plant, the sum of capital investments in development making almost UAH 43 million.

During the visit, the expert team also got familiar with organization of industrial assembly at the company capacities, based on the Volkswagen Group concern standards, and confirmed by Germany's independent quality audit agency at ISO 9001:2000 (TUV CERT).

EuroCar became the first enterprise to have been visited by an expert team of the industrial policy ministry for study of the current situation and problems over the work of this country's main automobile enterprises with the purpose of creating favorable conditions for the development of the domestic car industry, and improvement of environment for strategic investors in conditions of Ukraine's membership of the World Trade Organization.

EuroCar opened in Solomonove, Zakarpattia region, on December 19, 2001. From 2002 to 2005 it worked within the framework of free trade zone Transcarpathia.

The company employs over 1,000 people, and sent UAH 626 million of taxes and duties to the national budget last year.