28 Feb 2024 10:02

Ukrainian electrical engineering companies have potential in Europe - Ukrenergo head

MOSCOW. Feb 28 (Interfax) - Ukrainian manufacturers of electrical equipment have significantly increased their output since the beginning of the crisis and have great potential, including on the European market, Chairman of the NEC Ukrenergo Board Vladimir Kudritsky said.

"Ukraine historically has a strong position in the production of electrical equipment. Manufacturers actually produce more products than before the crisis," Ukrainian media quoted him as saying at the Made in Ukraine forum in Kiev.

At the same time, Kudritsky noted that the rapidly growing market of electrical products allows manufacturing products not only for Ukrainian needs, but also for European ones, as there is a huge demand in Central and Eastern Europe for this kind of equipment.

Kudritsky named in particular the low cost of production, serious training of engineers, as well as better logistical opportunities than, for example, China or Turkey have, as Ukraine's advantage.

At the same time, he noted that there are certain nomenclature positions "in certain niches and segments, where there are still no Ukrainian manufacturers."

However, in his opinion, Ukraine needs to focus on securing long-term purchase contracts that will allow existing enterprises to scale up production, as it happened to Ukrenergo's orders for two or three years, and for those production facilities that do not yet exist, to create the first pilot contracts that "will allow major global actors to join in, and localize production here in Ukraine."