The Zhytomyr region plans to attract $5M to grow industrial hemp.

According to a former mayor of Glukhov, Michel Tereshchenko, the region is developing a cultivation cluster for technical industrial hemp to revive the country’s textile industry. It is assumed that part of the money will be raised through bank loans, and private investors will provide the rest.

Next year in the village of Ryzhany an industrial hemp plantation with an area of up to 850 hectares and 1,250 hectares will be established. This area was chosen for its harvesting capabilities provided by a specialized combine made in France.

The mothballed Volodarsko-Volyn flax factory in Ryzhany will be rebuilt for further operation. Tereshchenko clarified that the plant reconstruction would cost $2M, the purchase of special equipment will cost almost $1.5M, and another $1M will be spent on organizing production and purchasing seeds.