Kingpsan CEO Gene Murtagh outside the company’s ICON innovation centre in Kingscourt.

Kingspan to invest €200m in Ukraine

Kingspan is to invest €200m in a new Building Technology Campus in Ukraine. The global leader in advanced insulation and energy-efficient building solutions confirmed the investment yesterday (Tuesday).

The development process is set to begin immediately – subject to appropriate security conditions - with the facility expected to be fully complete within five years.

The Cavan headquartered manufacturer has already appointed a project team to identify a suitable site, likely to be in the west of the embattled country, and is liaising with the Ukrainian Government to this end.

Ukraine’s Foreign Minister, Dmytro Kuleba, welcomed Kingspan’s commitment following their decision to exit Russia’s market and invest in Ukraine. He said: “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.”

Commenting from Kyiv, Gene Murtagh, CEO of Kingspan Group, regards the proposed investment as sitting 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 Building Technology Campus we are planning will make positive contributions on all three fronts, supporting Ukraine as it rebuilds its economy, meeting demand across central and Eastern Europe for energy efficient buildings, and helping Europe to reduce reliance on oil and gas imports.”