NovaSklo, IFC begin partnership to build Ukraine's first float glass plant
NovaSklo, part of the EFI Group of investment companies, has signed a memorandum of understanding with the International Finance Corporation (IFC), a member of the World Bank Group, to support the establishment of Ukraine's first modern float-glass production facility, EFI Group's press service told Interfax-Ukraine.
Under the agreement, IFC, together with Japanese partners, will provide NovaSklo with advisory support and institutional capacity building focused on techno-economic analysis, risk assessment and implementation of international best practices in sustainable development. The cooperation aims to help the company attract long-term financing for the project's implementation.
"IFC's support is signal of trust in Ukrainian investment projects. Together with our partners, we are investing world-class expertise to create a powerful construction materials industry in Ukraine. This approach will enable the development of benchmark industrial facilities in the country. We believe in the future of Ukrainian industry and are ready to invest in the country’s industrialization even during wartime," said Ihor Liski, founder of EFI Group.
NovaSklo plans to build a modern float-glass plant in Kyiv region. The project will be implemented in line with IFC's Performance Standards and sustainability framework, ensuring compliance with the highest international standards on environmental protection, occupational health and safety, and social responsibility.
Total investment in the float-glass plant is estimated at around EUR 250 million. The project is expected to create more than 300 jobs and open new opportunities for local suppliers, logistics firms and related industries.
"Ukraine continues to demonstrate remarkable resilience and strong potential for economic recovery. NovaSklo is a clear example of how Ukrainian entrepreneurs are ready to build modern industrial facilities even under challenging circumstances. IFC has extensive experience in supporting industrial projects around the world, and we are pleased to share this expertise with Ukrainian businesses," said Ines Rocha, IFC Regional Director for Western, Central and Eastern Europe, Ukraine and Moldova.
NovaSklo also signed a technical partnership agreement with Nippon Sheet Glass Group (NSG), one of the world's leading glass manufacturers and technology innovators, which will provide technical expertise and state-of-the-art technology solutions for production.
After the preparatory phase, the company plans to secure long-term financing for implementation, with IFC acting as a leading partner for mobilizing the required investment. The agreement signed today marks an important step in the development of Ukrainian industry and signals a high degree of trust in Ukraine's investment potential by international financial institutions, even in a challenging period.
NovaSklo is a Ukrainian company implementing the project to create the country's first high-tech float glass manufacturing plant in Kyiv region. The project was developed by the investment-industrial company EFI Group in partnership with leading European equipment manufacturers for float glass production.
NSG Group (Nippon Sheet Glass Co., Ltd.) is one of the world's leading manufacturers of glass and glazing systems for architecture, the automotive industry and innovative technologies, operating in more than 100 countries.
