The British company SV Motors Ltd is preparing documents to apply to international arbitration in connection with the cancellation of the investment program of the Lutsk Automobile Plant. This was reported by the LuAZ press service.\nAccording to the report, during 2003-2004 the Cabinet of Ministers of Ukraine approved investment programs for the production of trucks and buses at the Lviv Automobile Plant, the Lutsk Automobile Plant, and the Kremenchuk Auto Assembly Plant. But on October 1, 2003, the President of Ukraine — the investment program of LuAZ was cancelled by a resolution of the Cabinet of Ministers.\nAccording to the head of the LuAZ press service, Yaroslav Andrushko, a comparative analysis of the investment programs of the three enterprises shows that the program of the Lutsk Automobile Plant provides the largest volume of investment and is the only one with forecast production indicators broken down by year. On the whole, all three programs envisage approximately identical investment conditions and comparable volumes of production of trucks and buses.\nAs stated by the head of the LuAZ press service, Yaroslav Andrushko, the cancellation of LuAZ's investment program without terminating the validity of the investment programs of other enterprises gives the British investor grounds to believe that it was deliberately discriminated against by being granted a less favorable regime than other investors have. SV Motors Ltd regards such treatment as a violation of the terms of the intergovernmental agreement "On the Promotion and Mutual Protection of Investments." An additional ground for this decision was the approval on October 8, 2004, by the Cabinet of Ministers of Ukraine of the investment program of the Kremenchuk Auto Assembly Plant in accordance with the old Law of Ukraine "On Stimulating the Production of Automobiles in Ukraine."\nIn accordance with the Agreement, investment disputes between an investor and the host state may be referred for consideration to the International Centre for Settlement of Investment Disputes, the Arbitration Court of the International Chamber of Commerce, an arbitrator, or an arbitration court appointed by special agreement or in accordance with the Arbitration Rules of the UN Commission on International Trade Law.\nSV Motors Ltd became an investor of LuAZ by purchasing shares of an additional issue of the Ukrainian automaker.\nThe Lutsk Automobile Plant decided to invest UAH 495.994 million in production by 2007, as stated in the plant's investment program.\nThe investors are intended to be the "Ukrainian Industrial-Investment Concern" (UAH 41 million), the company SV Motors Ltd (UAH 119 million), and the company "Skhid-Motors" — (UAH 5 million).\n\nReference: OJSC "Lutsk Automobile Plant"  a major Ukrainian manufacturer of automobiles for various purposes, which is among the three largest Ukrainian automakers by gross profit. The basis of the plant's products consists of VAZ, UAZ, and IZh automobiles. In the near future, it is planned to begin serial production of light trucks and its own LuAZ-1301 automobile.\n81.11% of the shares of OJSC "Lutsk Automobile Plant" are owned by the "Ukrprominvest" concern, which is associated with the name of Petro Poroshenko.