The South Korean company ITOXI is making significant investments in glass production in Ukraine, having signed a memorandum of long-term cooperation with the Ukrainian developer City One Development. The investment project involves the construction of two modern glass factories within the industrial parks “City of Glass” in Beryslav, Kyiv region, and “Galicia” in Kalush, Ivano-Frankivsk region.
This is reported by Business • Media
According to company representatives, the strategic partnership aims to develop high-quality glass production in Ukraine, which is an important step toward strengthening the country’s industrial potential and contributes to the creation of new jobs. ITOXI’s CEO Alex Cheon reported that the process of formalizing the agreement for acquiring a stake in the company as part of this project is currently underway.
Plans and Timelines for Production Launch
The first factory in the Kyiv region is expected to be commissioned in 2027, while the second in Kalush is set to open in 2028. The capacity of the first glass factory will be 600 tons of glass daily, and the total project cost is estimated at 140 million dollars.
Impact on the Ukrainian Industry
The implementation of this project will open new opportunities for the development of high-tech industry in Ukraine, promote the introduction of modern technologies, and strengthen the country’s position in the market for high-quality glass production. This is an important step toward diversifying the industrial sector and attracting foreign investment to the Ukrainian economy.