Site to be constructed over next five years and in excess of 600 jobs will be created.
Irish-headquartered energy efficient building firm Kingspan is to invest €200m in a new Building Technology Campus in Ukraine.
Kingspan’s Building Technology Campus in Ukraine will manufacture advanced insulation products and district heating solutions.
“Our goal is not solely renewal and rebuilding of the destruction caused by Russian aggression but also the creation of a completely new, modern and innovative economy leveraging leading urban development expertise and green technologies”
These technologies are central to the urgent effort to decarbonise the global built environment, which is responsible for 39% of all energy-related carbon emissions.
“This investment sits at the crossroads of three crises: the climate crisis, the energy security crisis, and the crisis caused by the Russian war against Ukraine,” said Gene Murtagh, CEO of Kinsgpan Group.
“The new Building Technology Campus we are planning will make positive contributions on all three fronts, supporting Ukraine as it rebuilds its economy, meeting demand across central and Eastern Europe for energy efficient buildings, and helping Europe to reduce reliance on oil and gas imports.
“The ambition is for the development process to begin immediately – subject to appropriate security conditions – with the facility expected to be fully complete within five years. Kingspan has appointed a project team to identify a suitable site, likely to be in the west of the country, and is liaising with the Ukrainian Government to this end.
On 5 April Kingspan announced it had completed its exit from the Russian market and divested its operations to local management. Russia accounted for less than 1% of Kingspan’s global operations. Kingspan products are no longer available for sale in Russia. Kingspan has donated $750,000 to UNICEF for the setup of five Blue Dot Centres to assist refugees on the Ukrainian border.
“Our goal is not solely renewal and rebuilding of the destruction caused by Russian aggression but also the creation of a completely new, modern and innovative economy leveraging leading urban development expertise and green technologies,” said Ukraine’s Foreign Minister Dmytro Kuleba.
“For this reason, based on President Volodymyr Zelenskyy’s vision, we created the Recovery Plan for Ukraine, and Kingspan’s project meets both the spirit and the goal of our plan. We invite the international business community to follow this example by withdrawing completely from Russia and relocating their businesses in Ukraine. This will benefit both: a company’s standing and its long-term strategy.”