The construction of the Bionic Hill innovation park in Kyiv has been frozen as Kyiv authorities do not fulfill liabilities on installation of utility and other communications networks in the present difficult economic conditions, a shareholder of UDP and MP Vasyl Khmelnytsky said in an interview with Interfax-Ukraine.

"There is no sense in investing in a research town, to which no utility and communications networks are connected and when there is no possibility of getting there. We've fulfilled our part of the liabilities, and we're waiting when Kyiv authorities will fulfill their part," he said.

He said that the city did not present additional demands to the company: Kyiv's authorities have a difficult situation with the budget.

"I understand this. However on the other hand, if we use only a "band-aid" approach, we will never have money," he added.

He said that the project was aimed at creating around 35,000 jobs and attracting up to $1 billion of investment for the replenishment of the city budget.

"The company takes commercial risks. Of course, the company expects that city authorities will help," he said.

Khmelnytsky said that at present, the Bionic Hill team is analyzing the opening of an innovation park in one of the regional centers of Ukraine.

"If this happens, this example will spur the capital and disperse doubts. I'm sure that sooner or later Kyiv will have its own innovation park," he said.

Bionic Hill is the first innovation park in Ukraine, and is designed to form Eastern European platforms in the capital of Ukraine to develop the high-tech business. Under the project, an advanced science city, which will occupy 147 hectares of the former military regiment, will be built in Kyiv's Sviatoshynsky district. The technopark will be home to leading Ukrainian and international companies whose core business is information technology, biotechnology, and energy efficiency.

The company says that the project underwent the procedure of public hearings in 2013, and was agreed with related municipal services. The company received a state certificate of land ownership, a certificate of regulatory assessment of the project, approvals for its construction, and a detailed plan of the territory, which was approved by Kyiv City Council.