EBA adds nine new projects worth over USD 2 billion to the “Investment Leaders” initiative

04/ 12/ 2025

Listen to online Stop   The European Business Association has announced the participants of the second wave of the Investment Leaders Initiative – nine member companies that have joined the list of major wartime investors. Investment Leaders is a public list of EBA member companies that are implementing significant investment projects, valued at USD 10 million or more, during the full-scale invasion. Through their example, these companies demonstrate that Ukraine remains an attractive destination for investment despite the war and the challenges it brings. The second wave of the initiative includes projects worth over USD 2 billion in investment, of which USD 975 million relates to completed projects and USD 1.125 billion to projects currently under implementation. In particular, the list includes the following projects and companies: Astarta Holding– Oilseed processing plant and strategic development of key business areas – USD 175 million Metinvest Group – Investments in production development and energy independence – USD 910 million in 2022–2024 and around USD 300 million planned for 2025 Goodvalley Ukraine – Expansion of existing facilities and reconstruction – USD 55 million Interpipe – New heat treatment facility at Interpipe Niko Tube in Nikopol – USD 40 million; modernisation and expansion programme for wheel and wheelset production through 2032 – USD 120 million ETL Group – Development of solar power and energy storage systems – USD 10 million Ferrexpo – Development of mining and metallurgical capacities, infrastructure investments, and implementation of green mining principles – USD 392 million Lemtrans Group – New infrastructure and logistics projects, including construction of container terminals in Mostyska (2022), Vinnytsia (2024), and Fastiv (2025) – USD 25 million lifecell (DVL Group) – Energy resilience of infrastructure – USD 48.6 million Octava Capital – Octava Defence – USD 15 million Anna Derevyanko. Executive Director of the European Business Association. Member companies of the EBA clearly demonstrate that investing during wartime is absolutely possible. Seventy-two per cent of EBA members plan to continue investing in business support and development in 2026, with 20% planning major investment projects. We are pleased to highlight the companies that have been investing significantly in Ukraine’s economy since early 2022. Their resilience and commitment to Ukraine are truly remarkable. As a reminder, the first wave of the Investment Leaders initiative included 20 EBA member companies that have implemented investments totalling more than USD 3 billion since 2022. These include ArcelorMittal Kryvyi Rih, Bayer, Ventilation Systems, DTEK, Elementum Energy, EPAM Systems, ZAMMLER Ukraine, Kyivstar, Knauf Gips Kyiv, Biosphere Corporation, McDonald’s Ukraine, Neqsol Holding B.V., Nestlé Ukraine, “Podilskyi Cement” JSC (CEMARK), Saint-Gobain Construction Products Ukraine, City One Development, Ukrtelecom, Philip Morris International, Cersanit Invest, and Unilever Ukraine. In total, since 2022, member companies of the EBA have announced large-scale investment projects amounting to approximately USD 5 billion. The Investment Leaders list helps track business contributions to Ukraine’s development and reconstruction and showcases the country’s investment potential to international partners.

The European Business Association has announced the participants of the second wave of the Investment Leaders Initiative – nine member companies that have joined the list of major wartime investors.

Investment Leaders is a public list of EBA member companies that are implementing significant investment projects, valued at USD 10 million or more, during the full-scale invasion. Through their example, these companies demonstrate that Ukraine remains an attractive destination for investment despite the war and the challenges it brings.

The second wave of the initiative includes projects worth over USD 2 billion in investment, of which USD 975 million relates to completed projects and USD 1.125 billion to projects currently under implementation.

In particular, the list includes the following projects and companies:

• Astarta Holding– Oilseed processing plant and strategic development of key business areas – USD 175 million
• Metinvest Group – Investments in production development and energy independence – USD 910 million in 2022–2024 and around USD 300 million planned for 2025
• Goodvalley Ukraine – Expansion of existing facilities and reconstruction – USD 55 million
• Interpipe – New heat treatment facility at Interpipe Niko Tube in Nikopol – USD 40 million; modernisation and expansion programme for wheel and wheelset production through 2032 – USD 120 million
• ETL Group – Development of solar power and energy storage systems – USD 10 million
• Ferrexpo – Development of mining and metallurgical capacities, infrastructure investments, and implementation of green mining principles – USD 392 million
• Lemtrans Group – New infrastructure and logistics projects, including construction of container terminals in Mostyska (2022), Vinnytsia (2024), and Fastiv (2025) – USD 25 million
• lifecell (DVL Group) – Energy resilience of infrastructure – USD 48.6 million
• Octava Capital – Octava Defence – USD 15 million

Anna Derevyanko Executive Director of the European Business Association

Member companies of the EBA clearly demonstrate that investing during wartime is absolutely possible. Seventy-two per cent of EBA members plan to continue investing in business support and development in 2026, with 20% planning major investment projects. We are pleased to highlight the companies that have been investing significantly in Ukraine’s economy since early 2022. Their resilience and commitment to Ukraine are truly remarkable.

As a reminder, the first wave of the Investment Leaders initiative included 20 EBA member companies that have implemented investments totalling more than USD 3 billion since 2022.

These include ArcelorMittal Kryvyi Rih, Bayer, Ventilation Systems, DTEK, Elementum Energy, EPAM Systems, ZAMMLER Ukraine, Kyivstar, Knauf Gips Kyiv, Biosphere Corporation, McDonald’s Ukraine, Neqsol Holding B.V., Nestlé Ukraine, “Podilskyi Cement” JSC (CEMARK), Saint-Gobain Construction Products Ukraine, City One Development, Ukrtelecom, Philip Morris International, Cersanit Invest, and Unilever Ukraine.

In total, since 2022, member companies of the EBA have announced large-scale investment projects amounting to approximately USD 5 billion.

The Investment Leaders list helps track business contributions to Ukraine’s development and reconstruction and showcases the country’s investment potential to international partners.