The Cabinet of Ministers has allowed the Lutsk Automobile Plant (Volyn region) to invest 1,833.7 million hryvnias in production during 2005-2008, reports "Ukrainian News". \n \nThis is stated in the Cabinet's resolution of January 18 "On Amending the Investment Program for the Production of Trucks and Buses by the Open Joint-Stock Company 'Lutsk Automobile Plant'." \n \nAccording to the report, LuAZ's investment program envisages the production of passenger cars in the amount of 31.5 thousand units worth 889.65 million hryvnias in 2005, 33.3 thousand units worth 997.888 million hryvnias in 2006, 38.1 thousand units worth 3,181.282 million hryvnias in 2007, and 47.4 thousand units worth 2,647.088 million hryvnias in 2008. \n \nThe investment program envisages the production of trucks in the amount of 2.95 thousand units worth 90.189 million hryvnias in 2005, 3.8 thousand units worth 114.021 million hryvnias in 2006, 5 thousand units worth 143.933 million hryvnias in 2007, and 6.5 thousand units worth 168.709 million hryvnias in 2008. \n \nThe investment program envisages the production of buses in the amount of 1.7 thousand units worth 266.730 million hryvnias in 2005, 2.3 thousand units worth 374.723 million hryvnias in 2006, 3 thousand units worth 437.894 million hryvnias in 2007, and 3.4 thousand units worth 492.75 million hryvnias in 2008. \n \nTo fulfill the planned production volumes, the plant intends to build a welding line, a painting complex with a capacity of 60 thousand vehicle bodies and cabs per year, and a new assembly complex. \n \nAccording to the text of the resolution, the sources of financing for the investment program are: an investment in the amount of 165 million hryvnias for the production of trucks and buses, an increase in LuAZ's charter capital through an additional issue of shares in the amount of 648 million hryvnias, and reinvested profit in the amount of 1,020.67 million hryvnias. \n \nAccording to the investment program, LuAZ's shareholders are the companies "Ukrainian Industrial-Investment Concern," "Volyn Privatization," the investment companies "ITT-Invest" and "Naftoenergoinvest," the company "Ukrderzhleasing," the insurance company "Ukrinstrakh," the stock company "Scanner," the companies "Gelinvest," "Kontrastservis," "Skhid-Motors," and SV Motor LTD (Great Britain). \n \nAs the agency reported, on September 17, 2003, the Cabinet of Ministers allowed LuAZ to invest 495.994 million hryvnias in production until 2007. \n \nOn October 1, 2003, LuAZ's investment program was canceled by a decree of Kuchma. \n \nOn November 9, 2004, Kuchma reinstated LuAZ's investment program. \n \nIn 2004, LuAZ increased production by 91.8%, or by 10,493 vehicles - to 21,928 vehicles compared to 2003. \n \nLuAZ ended 2003 with a profit of 6.796 million hryvnias, increasing profit compared to 2002 by 22.88 times - to 286.16 million hryvnias. \n \nAccording to data from the Agency for the Development of the Stock Market Infrastructure as of May 2004, 64.7% of the plant's shares belonged to LuAZ, and 16% to the company "Ukrainian Automobile Holding." \n \nIn December 2004, the Antimonopoly Committee allowed the company SV Motors Ltd (Great Britain) to buy more than 50% of the shares of the Lutsk Automobile Plant.