Dnipropetrovsk Governor Igor Kolomoyskiy - a tycoon worth an estimated USD 2.4 billion and a renowned critic of Russia President Vladimir Putin - submitted the plan to Ukrainian President Petro Poroshenko for formal approval, his deputy said.
The proposed 1,900-kilometre electrified metal fence could be built in six months and its USD 135-million cost financed by a local charity, Gennadiy Korban told local news agencies.
"This project's objective is to prevent people from breaking in from a country that is waging aggression against Ukraine," Korban said.
The entire region would be protected by motorised divisions of the Ukrainian interior ministry and the part-volunteer National Guard force.
There was no immediate comment to the proposal from the president's office.
Kolomoyskiy, a 51-year-old Dnipropetrovsk native, was appointed governor on March 2 as part of the new pro-Western leaders' efforts ensure control over the heavily-Russified east.
He has since succeeded in preventing the separatist violence that has enveloped the neighbouring Donetsk and Lugansk regions since early April from spreading to his region of Dnipropetrovsk.
His business empire includes Ukraine's largest bank Privat and three small regional airlines along with some oil companies.
Kolomoyskiy also controls several national television stations and oversees the local Dnipro Dnipropetrovsk football club.
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