Invest International provides export finance to support a new Aircrete aerated concrete plant for Kovalska, Ukraine
The “Kovalska” Group signed a €27 million loan agreement with Invest International for the development of the production of environmentally friendly aerated concrete blocks and panels by the Aircrete Europe corporation in Ukraine. The loan, funded via the Dutch Good Growth Fund (DGGF), will be used to finance machinery as well as the commissioning of the new production plant located in Rozvadiv, Ukraine.
The project is relevant to the ongoing reconstruction efforts in Ukraine and shows how effective cooperation between businesses, alongside international institutions and governments, can collectively ensure Ukraine’s recovery.
The lightweight concrete technology of Aircrete Europe (a.k.a. autoclaved aerated concrete) saves at least 20% on energy consumption in buildings through its superior insulation properties and has the further benefit of avoiding much of the soil erosion associated with clay extraction for the production of traditional bricks.
The project will contribute to SDG 8 (Decent work), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate action). It is expected that additional local direct employment of approximately 350-400 jobs will be created during the plant’s construction, and approximately 240 new direct jobs during operation phase. Collectively, the project aims to contribute to the international effort to support Ukraine to recover as an innovative, modern and green economy.