Page 47 - UKRRptOct23

€9M, and an anticipated output of 60,000 tons of products per year, said the general director of Saint-Gobain Construction Products Ukraine, Kyrylo Pesenkov. He noted that the company intends to reach the planned capacity by the end of 2024. The plant's first operation stage will create about 30 jobs. It is reported that the owner of Saint-Gobain Building Products Ukraine is the French company Saint-Gobain Isover. According to 2022's results, the company generated ₴279M in revenue and ₴18.5M in net profit. Saint-Gobain is one of the largest manufacturers of building materials in Europe. The group operates in three sectors: innovative materials, construction products, and distribution of building materials.
By the beginning of 2023, Austrian businesses had invested about €1.62B in Ukraine. About 95% of enterprises that worked in Ukraine before the full-scale war continued their operations and even expanded, said the Ambassador of Austria to Ukraine, Arad Benkö. "Moreover, there are many new potential investors interested in the Ukrainian market who struggle to commit due to the absence of investment guarantees," Benko explained. Currently, there are almost 200 locations belonging to Austrian enterprises in Ukraine. Twenty-five of them are industrial, employing 20,000 Ukrainians. The ambassador noted that among the largest Austrian investors are Kronospan, which, over the past 15 years, has invested almost €1B, and Kyiv Cardboard and Paper Mill, with investments of about €300M over the past 20 years. As a result of the full-scale invasion, investments from about 200 Austrian companies in Ukraine were affected, mainly small and medium-sized enterprises with an annual turnover of about €3-€5M.
The UBC Group is building a second line of refrigeration equipment production in Vinnytsia. The plant's area will be 5,000 square meters, and construction is planned to be completed in 2024. In addition, the company put into operation a 600 kW solar power plant at the Green Cool facility. In total, 1,080 solar panels have been installed at the enterprise. It is noted that the panels will ensure stable electrical supply for the plant and will also be able to minimize the load on the country's power grid. The company wants to replace 100% of its electricity consumption with energy produced by RES during the period from April to September. Green Cool, which operates out of the Vinnytsia Cluster of Refrigeration Engineering industrial park, makes refrigeration equipment that is exported to more than 20 countries.
An American entrepreneur launches the Green Flag Ventures fund for investment in Ukrainian startups. Justin Zif does not disclose the exact investment amount, but the fund will invest at the pre-seed and Series A stages, writes AIN.UA. The fund clarifies that they are interested in Ukrainian projects, and there are several criteria by which affiliation to Ukraine will be determined. First, the founders must be Ukrainians. Secondly, a significant part of the team should also be based in Ukraine. But this requirement is not absolute. If, for some reason, the team is outside of Ukraine, Green Flag Ventures representatives will pay attention to the projects that positively impact the country's image or economic impact. Justin Zif says he came to Ukraine for the first time in 2022 when he delivered humanitarian aid. Since then, he has paid extensive attention to local businesses, entrepreneurs, and the startup ecosystem.
47 UKRAINE Country Report October 2023 www.intellinews.com