French Company Nexans Enters West Ukraine
- New Europe Investor
- March 16, 2016
French cable producer, Nexans has recently entered Lviv Oblast and is set to invest 120 million hryvnia (€4.12 million) in the region.
Last month, the company took out a 49 year lease on nearly 6 hectares of land in Brody city where it plans to build a factory. It will pay the 280,000 (€10,000) per annum to the city budget for the land.
Lviv Oblast council said that Nexans will employ 2,000 people during construction, with the factory opening in 2017.
Nexans was formed in 2000 and operates in 40 countries worldwide, employing 25,000 people. It makes wiring for BMW and General Motors among other vehicle manufacturers.
Nexans first entered Ukraine in 2010.
Foreign investors interested in Ukraine are looking closely at the western part of the country. This follows the destruction of the Eastern Dombass region in the Russian war against the country.
Japanese firm, Fujikura is currently recruiting 3,000 workers in Lviv following a deal struck last year. German company, Leoni AG has a factory in Stryi in Lviv Oblast employing 5,000 people. Like Nexans, Fujikura and Leoni AG also manufacture parts for the automobile industry.