Foreign corporations initiated the process of restoring infrastructure in Ukraine, Bloomberg reported. Austria, Germany, and Turkey are the first firms to commence operations. The European Investment Bank previously estimated the cost of reconstruction to be €1 trillion. Factoring in inflation, this is five times the amount allocated by the United States under the Marshall Plan, which provided aid to European nations post-World War II.
Governments, CEOs, and investors are positioning themselves in anticipation of a recovery. As per Bloomberg, more corporations are expanding their presence in Ukraine, banking on increased investment opportunities following the conflict.
Given the aid sources, US and European corporations are expected to secure the majority of the contracts. Turkish firms have already begun operations, hoping to gain an advantage when the competition for major contracts commences. Current projects include rebuilding bridges and roads and supplying power generators and mobile hospitals.
Austrian and German corporations have plans to rebuild infrastructure and defense plants. For instance, the German firm Rheinmetall AG has announced plans to establish facilities in Ukraine to produce 155 mm caliber artillery ammunition. Fixit, a construction materials manufacturer, is opening a production site in western Ukraine, while the chemical company Bayer AG is investing in seed production. Denmark allocated $130 mn to reconstruct a shipbuilding center in the Ukrainian city of Mykolaiv.
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