Investment for reconstruction: South Korean company to invest in construction of two plants in Ukraine
28 April 15:21
ITOXI Corp. from South Korea will join the construction of two glass manufacturing plants in Ukraine. This is stipulated by the Memorandum of Cooperation between the Ukrainian company City One Development and the South Korean partner. This was reported by the press service of the Ukrainian company, according to
The memorandum stipulates that at the first stage of cooperation between the two companies, two glass manufacturing plants will be built within the City of Glass industrial parks in Berezan, Kyiv region, and Galicia, Kalush, Ivano-Frankivsk region.
The Ukrainian company reminded that City One Development started construction of the first float glass plant in Berezan at the beginning of the full-scale invasion in 2022. The plant’s capacity is expected to produce 600 tons of glass per day, and the project is estimated at USD 140 million. In late 2024, the company began construction of a second plant. The first plant is expected to be commissioned in 2027 and the second in 2028.
According to LIGA.net, the investment and development company City One Development specializes in the creation, implementation and management of large-scale infrastructure residential complexes, and also actively invests in the development of Ukrainian industry.
The portfolio of City One Development includes more than 1,150,000 sq. m. of completed projects and 600,000 sq. m. under construction. The company’s residential projects in the capital include: “Novopecherski Lypky, Boulevard of Fountains, Sviatobor Park Resort, and The Light.
Glass production is popular among investors
In February of this year, it became known that NovaSklo, a project of the Ukrainian investment company EFI Group, was planning to build a modern float glass plant in the Kyiv region.
The planned investment in the project is 240 million euros, and the company will create more than 300 new jobs in the first year.
The plant will have one production line with the possibility of adding a second one. The main consumers of glass will be manufacturers of windows, facades, etc. Leading global manufacturers from Germany will participate in the construction of the plant and supply equipment and advanced technologies.
Glass production is not the only industry whose products will help rebuild
on April 24, the Finnish company Peikko Group Corporation officially announced the commissioning of an industrial building for the future plant for the production of concrete joints and composite structures at the Bila Tserkva Industrial Park.
Recently, it became known that the Irish company Kingspan, a world leader in building solutions and thermal insulation materials, is starting to build an innovation campus near Lviv.
A German industrial consortium led by Vollert Anlagenbau GmbH has announced the launch of a project in Ukraine to build a network of high-tech plants for the production of precast concrete structures using the most modern German conveyor technology.
According to analysts at the Kyiv School of Economics, 90% of the construction materials needed for reconstruction can be produced in Ukraine. To do so, Ukraine should focus on attracting investment in the construction materials industry.
In their study of Ukraine’s construction industry last year, experts assessed the impact of the war, the extent of infrastructure damage, and the amount of investment in the industry needed to rebuild.
In total, the Kyiv School of Economics estimates that about $65 billion will be needed for construction materials alone to rebuild Ukraine.
