Ukraine: Kingspan has broken ground on the €280m construction of its upcoming Lviv building materials complex in the western oblast of the same name. The complex will produce insulation, among other products, and also supply district heating. The Irish Times newspaper has reported that Kingspan first committed to a future expansion of its operations in Ukraine in 2022, after Russia invaded the country and occupied parts of its eastern oblasts of Crimea, Donetsk, Kharkiv, Kherson, Luhansk and Zaporizhzhia.
Project Director Mike Stenson said “Despite the perceived distance from the frontline, Lviv has experienced its share of conflict, highlighting the risks associated with such an investment. Nevertheless, Kingspan's move is seen as a bold step towards aiding Ukraine's economic recovery and demonstrating the country's viability for business amidst challenging conditions.”
