Finnish industrial company REKA Group is beginning the implementation of the REKA NOVO investment project in Novoselytsia, Chernivtsi region, with a total investment volume of €5 million, the Chernivtsi Regional Military Administration reported.
The new enterprise will specialize in the production of silicone hoses for European manufacturers of trucks, special-purpose vehicles, and companies in the shipbuilding industry.
Thus, this is an export-oriented production facility being created by a foreign investor directly in Ukraine and integrated into European industrial chains.
REKA Group representatives Markku Rentto and Mika Kärkkäinen announced the start of the project during a meeting with the leadership of the Chernivtsi region and the Novoselytsia community.
According to the published data, the project has been named REKA NOVO. The total volume of capital investment will amount to €5 million. The first stage of the enterprise is expected to be launched in early 2027.
The products of the new plant will be oriented primarily toward the European market. This makes it possible to view the project not only as a direct foreign investment in Ukrainian industry, but also as a further integration of Ukrainian production sites into the supply chains of European mechanical engineering.
According to specialized investment resources, international manufacturers of heavy machinery, including Volvo and John Deere, are named among the potential consumers of the products. However, the official statement of the Chernivtsi Regional Military Administration does not identify specific customers, so the conclusion of direct contracts with these companies has not yet been publicly confirmed.
For the Chernivtsi region, the project is of particular interest against the background of the comparatively small accumulated volume of foreign direct investment. According to the Regional Military Administration, more than 400 enterprises with foreign capital operate in the region, while the total volume of attracted foreign direct investment amounts to about $19 million.
Against this background, REKA Group’s €5 million investment is a notable new industrial project for the region.
The location of the production facility in Novoselytsia also gives the investor a logistical advantage: the city is located not far from the border with Romania, which facilitates the integration of the enterprise into European production and transport chains.
The project is also indicative of a broader trend toward relocating individual production operations closer to the EU market. Ukraine’s western regions, thanks to their geographical proximity to the European Union, relatively developed industrial base, and access to the Ukrainian workforce, are gradually becoming one of the main locations for new export-oriented production facilities.
Official source: Chernivtsi Regional Military Administration — REKA NOVO investment project.
