There is no prospect to restore Kherson cotton factory, but its facilities should be used for other industrial projects, Head of Kherson Regional State Administration Andriy Hordeyev has said.

"This [the restoration of the factory] is a complete utopia. Those who actively participated in the looting of the giant facility are still manipulating it. Two weeks after being appointed, I took pictures of the factory. There are no workshops there, only construction waste that lies in heaps. This is a cemetery of an enterprise," Hordeyev said in an exclusive interview with Interfax-Ukraine.

At the same time, according to him, the plant occupies 48 hectares within the city. It has its own railway line, enormous possibilities of power supply, sewage system … and production workshops.

He said the plant area was allocated for an industrial park.

"And in this regard I have support from the government, the State Property Fund. It's time now to stop speculating and reminiscing. It is time to give this giant a new life," the governor said.

Kherson cotton factory was built in 1954. The plant was the largest producer of cotton textiles in Europe. At the beginning of 2012 some 25% plus one share in the plant was owned by the state, another 51.76% by PJSC Volyn Silk Plant (Lutsk).

Proceedings on the bankruptcy of the plant were initiated in May 2009, while in May 2013 it was declared bankrupt and a liquidation procedure was started.

According to the Dilova Stolytsia edition (Business Capital), the case is being reorganized in line with an agreement of the enterprise's creditors.