Kingscourt, Ireland – Rigid insulation board maker Kingspan is to invest up to EUR200m in a new production centre in Ukraine, according to press reports.
The company said it expects to make district heating products and insulation products there. It is currently scoping out locations in the country, following its withdrawal from activities in Russia.
According to a report in newspaper The National, Ukrainian Foreign Minister Dmytro Kuleba welcomed Kingspan’s announcement to invest, and help create what he called a modern and innovative economy with urban development expertise and green technologies.
‘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,’ he said.