DCH Group of Oleksandr Yaroslavsky intends in 2020 to launch a project to redevelop the territory of Kharkiv Tractor Plant (KhTP) into a multi-functional ecosystem for business, Ecopolis-KhTP, which will include five phases of implementation and is expected to be completed by 2033, the All-Ukrainian Association of Industrial Parks said on Facebook.

"The project coverage area is more than one million people. All the necessary communications have been made to the site, including railway tracks. Ecopolis-KhTP will consist of an industrial park, a technical park, a distribution center for online trade, a logistics complex, a shopping cluster, research, educational and medical centers," the report said.

As reported, with reference to Yaroslavsky, about $1 billion is planned to be invested in the project.

According to the report, the total area of Ecopolis-KhTP will exceed 150 hectares within Kharkiv, the area of buildings and structures is more than 550,000 square meters.

The current tractor production of KhTP will become one of the anchor residents of Ecopolis, and the technical park will become the future residence of the Kharkiv IT industry.