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Financing of 27 million euros to support new Aircrete AAC plant with Kovalska in Ukraine


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Invest International is providing a EUR 27 million loan to leading Ukrainian construction material company Kovalska Group to support the import of Aircrete Europe’s sustainable autoclaved aerated concrete (AAC) block production technology (with the possibility to make panels in the future) from the Netherlands to Ukraine.

The loan, funded via the Dutch Good Growth Fund (DGGF), will be partly used to finance machinery as well as the commissioning of a new production plant located in Rozvadiv, Western 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.

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Lightweight concrete technology

Aircrete is based in Oldenzaal, north of Enschede in the Netherlands, and primarily focuses on international markets. The building products produced by their lightweight concrete technology (in the industry known as autoclaved aerated concrete (AAC) save at least 20% on energy consumption in buildings through superior insulation properties. Further, the concrete has the benefit of avoiding much of the soil erosion associated with clay extraction for the production of traditional bricks. In addition, the production of AAC itself requires only little process energy and AAC also absorbs CO2 during its lifetime through the re-binding of CO2 (recarbonization).

Kovalska Kakhovka Autoclaving Area 1 1

Impact on local jobs

The project will contribute to SDG 8 (Decent work), SDG 9 (Industry, Innovation and Infrastructure) and SDG 13 (Climate action). It is expected that it will create additional local direct employment of approximately 350-400 jobs during the plant’s construction, and  more than 100 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.

Collaboration with Aircrete and Kovalska

Sergii Pylypenko, CEO of Kovalska Group: “Following the scale of destruction, the private sector, alongside the Government of Ukraine, now has the critical role of rebuilding the country. Kovalska is committed to the restoration of Ukraine. To do that, we need strategic investment and international partnerships. The financing of this project through Invest International has been very productive and I look forward to continuing our relationship over the years to come throughout the reconstruction in Ukraine.”

Joost Oorthuizen, CEO of Invest International: “Financing this project is important to Invest International given its relevance to the reconstruction efforts in Ukraine. We recognise that there is a monumental task ahead to restore what has been lost during the war. The reconstruction provides the opportunity to stimulate foreign investment and enhance skills and encourage innovation which this project embraces. Not only that, but it will allow Aircrete Europe, as a Dutch corporate and a global leader in the field of AAC technology, to further scale up its sustainable and cost-effective technological solution for a traditionally energy-intensive industry.”

Ralf Beier, Managing Director Aircrete: “This project in Ukraine is an important step in the country’s reconstruction. The factory will be equipped with the latest Aircrete innovations to achieve the highest level of automation, productivity, and superior product quality with Super Smooth surfaces. We thank the Kovalska team for entrusting us with this landmark project to build a modern showcase factory in Europe.”

Autoclaved CakesA view of Aircrete’s autoclaved aerated concrete cakes. Aircrete’s lightweight concrete technology saves at least 20% on energy consumption in buildings through its superior insulation properties. It is also able to absorb CO2 during its lifetime through the re-binding of CO2.

About Kovalska Group

Kovalska is one of the largest vertically integrated construction material manufacturers and property developers in Ukraine. Their business encompasses the production of concrete and associated products, dry mortar mixes, gravel, sand, lime, and limestone, as well as the building of residential and non-residential properties. Corporate headquarters in Kyiv, Ukraine.

-> Read more about Kovalska Group


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