The Investment Promotion Office under the Cabinet of Ministers of Ukraine (UkraineInvest), in accordance with the law on "investment nannies," signed memoranda on the preparation of applications for investment projects with Epicenter K for $150 million and Kingspan for $220 million.
During a press conference in Kyiv on Wednesday, the memoranda were signed on behalf of UkraineInves by Serhiy Tsivkach, Executive Director, on behalf of Epicenter K, by Petro Mykhailyshyn, CEO of the Epicenter shopping centers, and on behalf of Kingspan, by Mike Stenson, Head of the Kingspan Ukraine project.
According to Mykhailyshyn, before the war in Ukraine, Epicenter K invested at least $500 million a year in its development.
"Last year, despite the fact that most of the construction projects almost stopped, we built two shopping centers. The first stage with an area of 90,000 square meters - a shopping and entertainment center in Lviv and a shopping center of 60,000 square meters - in Kyiv's Berezniaky. It was difficult. But we a company that has developed, is developing and will continue to develop. For the next three years, there are plans for projects worth $2 billion," he said.
At the same time, Mykhailyshyn noted that with access to credit resources and the ability of the domestic industry to produce enough concrete and metal structures, Epicenter K will be able to implement these plans.
"And also if a conducive investment climate is created for us. We hope to get such a 'nanny' in the person of UkraineInvest," he added.
In turn, Stenson expressed satisfaction with the signing of the memorandum in the context of future investments of $220 million already announced in the future construction materials plant.
Earlier it was reported that Kingspan, an Irish manufacturer of heat-insulating energy-efficient technologies, plans to create a building technology campus in Ukraine. The start of construction is scheduled for 2024, the project implementation period is about five years.
Epicenter K LLC was established in 2003, opened its first hypermarket in Kyiv in December of the same year. As of the end of 2022, the company's network unites 74 operating retail facilities under the Epicenter and New Line brands in different regions of the country.
Kingspan (Ireland) was founded in 1965. It specializes in production of construction solutions for building envelopes (roofs, walls, facades), as well as protective walls, refrigeration doors, high-tech solid urethane and solid phenolic thermal insulation for roofs, walls, floors and pipelines. It operates 200 production facilities worldwide. The company came to Ukraine in 2005.
