International construction and insurance law specialists Beale and Co is providing guidance updates on companies looking to work in Ukraine.
Following the invasion of Ukraine and the ongoing war, the engineering, construction and infrastructure sector has started to turn its focus to the rebuild. Whilst the war still continues, the overall needs for reconstruction are not fully known, however, assessments are currently being carried out and plans put in place to begin the rebuild of Ukraine and its economy.
Given the scale and urgency of the rebuilding process, many businesses in the construction, engineering and infrastructure sectors will increasingly find Ukraine to be a source of opportunity for potentially lucrative contracts on high-profile projects. However, wherever there is contractual opportunity, there is contractual risk – and that maxim applies even more profoundly in the context of a country such as Ukraine, at least parts of which may still be at war at the time some of these rebuild projects take place.
Some estimates put the cost of rebuilding Ukraine’s physical infrastructure as high as $750bn. The New York Times has already dubbed Ukraine as “the world’s largest construction site”, as companies from around the world position themselves to gain an advantage in what could potentially be a multibillion-dollar effort, although one loaded with risk.
Against this background, leading international construction and insurance law specialists Beale and Co will be publishing a series of articles over the next few weeks providing guidance to those firms looking to support the rebuild. Organisations interested in receiving a copy of these can sign up at [email protected]
In advising on contracts, projects and disputes, Beale & Co will be supported by KPD Consulting, the Ukrainian law firm member of Lexicom. Lexicom is a network of independent commercial law firms across Europe which was founded by Beale & Co.
