Enterprise Ireland targets $500bn post-war reconstruction of Ukraine
Rebuilding the country will be one of the biggest construction projects Europe has ever seen
Enterprise Ireland has appointed a Ukrainian market expert to help Irish companies win business for the post-war reconstruction of the beleaguered country – work estimated to be worth over $500bn.
The ongoing war in Ukraine, initiated by Russia's full-scale invasion in February 2022, has caused unprecedented devastation to the country's infrastructure, economy, and society.
As of early 2025, estimates from the UN and other institutions suggest the cost of reconstruction could exceed $524bn over the next decade, making it one of the largest rebuilding efforts since World War II.
Sources in Warsaw told the Sunday Independent that Irish companies have been seeking opportunities in Ukraine, with state agency Enterprise Ireland supporting such efforts.
In response to questions, Enterprise Ireland confirmed it had been 'assessing potential future opportunities' for Irish companies in the rebuilding of Ukraine.
'We are currently working with a pathfinder [market expert] to map out opportunities, particularly aligned to the post-war reconstruction needs of Ukraine and Ireland's capability, –including in health, construction, engineering, telecommunications, digital technology, and professional services sectors.'
Enterprise Ireland's team in Poland has been helping assess opportunities. Last year it attended the Rebuild Ukraine Conference in Warsaw, pitching Ireland's capabilities and companies.
CDGA Consultants, a Cork-based engineering consultancy, is among the Irish companies to have already won business in Ukraine.
Last summer the company won a tender worth $250,000 to build a power system for a UN scientific facility in Zhytomyr oblast.
Dan Moriarty, managing director of CDGA, told the Sunday Independent the business was actively bidding with UN agencies on 'anything for Ukraine'.
Moriarty said CDGA had received some 'crucial' support from EI for its work in Ukraine and was working toward winning more contracts in the country. However, he noticed the effect of international financial support drying up in recent months, with two contracts he was close to securing 'disappearing'.
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'There was a bit of a dead period in January and February with the UN agencies; I think they were all reeling from these funding changes,' he said. 'It is only in the last six weeks that we have really seen the tenders start to appear again specifically for Ukraine.'
Matrix Internet, a digital marketing agency from Dublin, has also been bidding for business in Ukraine. Jeff Sheridan, managing director of Matrix Internet, said it had been in discussions with some parts of the Ukrainian government. Some of the potential work involves creating programmes that will help Ukrainian businesses 'survive, thrive and become more international'.
The business has also been working with Ukrainian organisation Unbroken, which helps people to rehabilitate after returning from the frontlines.
Sheridan said the Ukrainian market has the potential to be huge for Irish businesses, but that Ireland needed to 'step up'.
'I know other countries have heavier industries maybe than we do, more to do with construction. But it did feel like there is a big opportunity there and EI is trying to get Ireland into the picture.
'I think EI is trying hard, but maybe there is more the Irish Government could do. I think there is a huge opportunity there.'
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