Kronospan, one of Ukraine’s largest producers of chipboard, laminated chipboard, oriented strand board (OSB) and countertops, has launched a new OSB production line in Rivne region. The opening ceremony was attended by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

Investments in the new facilities totalled EUR 200 million. Around 60% of the production will be exported to the EU and the U.S.

“Kronospan is the largest European wood-based panel company operating in Ukraine. It continues to invest in new production facilities even during the war. This is an important example of the timeliness and feasibility of investing in Ukraine for both European and Ukrainian companies. New production is also an example of investment in the processing industry, the growth of which is an important priority of economic policy,” said Yuliia Svyrydenko.

She reminded that over the 20 years of its operation in Ukraine, Kronospan had invested almost EUR 1 billion in Ukrainian production, including EUR 563 million in the plant in Rivne region. The company currently employs almost 800 production specialists.

According to Yuliia Svyrydenko the Government’s task is to create conditions to make it profitable to invest in the development of the real sector in Ukraine, to produce and export value-added products. The policy of development of Ukrainian producers “Made in Ukraine” is intended to facilitate this. The policy includes a programme for the development of industrial parks, support for projects with significant investments, and investment insurance against war risks, among other things.

Currently, Kronospan has initiated the creation of an industrial park. The idea is to create a furniture cluster around a wood-based panel plant. The company has already invested EUR 47 million in the preparatory work and infrastructure of the industrial park. Of this amount, EUR 34 million was spent during the war.