The Irish company Kingspan, a world leader in the field of energy-efficient construction solutions, thermal insulation technologies and building decoration, is investing 200 million euros in a new construction technology hub in Ukraine. It will be built over the next five years and will create more than 600 working places. This was reported by company representatives following the results of their visit to Ukraine.

"Implementing the vision of the President of Ukraine, Volodymyr Zelenskyi, the Cabinet of Ministers and the Office of the President formed Ukraine's Recovery Plan, and the Kingspan investment project fully meets its goals. Our aim is not only the recovery and reconstruction of objects destroyed by the Russian invaders, but also the creation of a modern innovative economy using the leading experience of urban development and using of green technologies," - said Minister of Foreign Affairs Dmytro Kuleba, welcoming the decision of the Kingspan management to invest in Ukraine.

The head of the Ministry of Foreign Affairs of Ukraine called on international business to follow the example of Kingspan, to completely withdraw from the russian market and move investment to Ukraine. This will benefit both the reputation and the long-term strategy of each business.

During a visit to Kyiv, CEO of the Kingspan Group, Gene Murta, said: "This investment is at the crossroads of three crises: the climate crisis, the energy security crisis, and the crisis caused by the russian federation's war against Ukraine. The new construction technology hub we plan to create will make a positive contribution to all three fronts: supporting Ukraine as it recoveries its economy, meeting demand in Central and Eastern Europe for energy-efficient buildings, and helping Europe reduce its dependence on oil and gas import. Our ambition is to start the project development process immediately - under appropriate security conditions. The facility is expected to be fully completed within 5 years. Kingspan has already appointed a project team to identify a suitable location, likely in the western part  of the country, and is connecting with the Ukrainian government to this end."

Background: Kingspan has 198 manufacturing facilities worldwide and employs over 19 000 people. On April 5, Kingspan announced the full withdrawal from the russian market and transfer of all its activities 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 donated 750 000 US dollars to UNICEF to set up five Blue Dot centers to help refugees at the Ukrainian border.

Reference source: Ministry of Foreign Affairs of Ukraine