Kyiv Investment Group (KIG) has suspended the realization of a project to build a pharmaceutical plant in Kaluga region (Russia), a co-owner of KIG and MP Vasyl Khmelnytsky said in an interview with Interfax-Ukraine.

"Today, there is no clarity in how our markets will develop, how they will be regulated, etc. Risks are very high, and at present we stopped the process," he said, asked if the group will build a plant in Russia and sell its products on the Russian market.

As reported, a representative of Kyiv Investment Group, Andriy Filonov, said in late 2013 that KIG plans to invest $50 million in a project on the construction of a pharmaceutical plant in Kaluga region (Russia). He said that the project would be realized in Vorsino industrial park in Kaluga. The products of the plant in Kaluga region will be sold on the Russian market, he said.

Khmelnytsky invests in large infrastructure projects, in particular, in the modernization of Kyiv Airport (Zhuliany). He is a shareholder in the largest developing company in Kyiv – UDP (Ocean Plaza mall in Kyiv, Meganom mall in Crimea, residential complexes Novopecherski Lypky, Boulevard of Fountains, RiverStone, Parkove Misto, Maristella apartments in Odesa). Jointly with Horizon Capital and Dutch bank FMO he develops pharmaceutical business of private joint-stock company Biofarma. He is the founder of a first innovation park Bionic Hill and an inter-corporate IT university - Bionic University.