The Irish manufacturer of heat-insulating energy-efficient technologies Kingspan intends to invest EUR200 million in the creation of a construction technology hub in Ukraine.
“This investment is at the crossroads of three crises: the climate crisis, the energy security crisis, and the crisis caused by the Russian war against Ukraine. The new construction technology hub that we plan to create will make a positive contribution on all three fronts: support Ukraine rebuilding its economy, meet demand in Central and Eastern Europe on energy-efficient buildings and help Europe reduce dependence on oil and gas imports,” Jean Murtha, CEO of Kingspan Group, was quoted in a press release from the Ukrainian Ministry of Foreign Affairs.
According to him, the company expects to immediately start developing the project. It is assumed that the hub will be located in the west of Ukraine, its construction will be completed within five years. The implementation of the project will create 600 new jobs.
“Our goal is not only to rebuild the facilities destroyed by the Russian invaders, but also to create a modern innovative economy using the leading experience in urban development and the application of green technologies,” Foreign Minister Dmytro Kuleba said, welcoming Kingspan’s decision to invest in Ukraine.
Kingspan, founded in 1972, specializes in building solutions for building envelopes (roof, walls, facades), as well as protective walls, cold storage doors, high-tech solid urethane and solid phenolic thermal insulation for roofs, walls, floors and pipelines. Kingspan operates 198 manufacturing facilities worldwide.
As reported, in April, Kingspan announced the completion of the exit from the Russian business. Russia accounted for less than 1% of Kingspan’s global operations. The company also donated $750,000 to UNICEF to set up five Blue Dot centers to help refugees on the Ukrainian border.
