South Korean ITOXI invests in two glass factories in Ukraine.

The two glass factories will be developed by City One Development and located in the City of Glass industrial park in Berezan, Kyiv region, and the Galicia industrial park in Kalush, Ivano-Frankivsk region. The companies have signed a memorandum for long-term cooperation.

This strategic partnership aims to enhance glass production in Ukraine, which is vital in boosting the country’s industrial potential. The construction of factories in these two industrial parks marks the project’s first stage, representing a significant milestone for introducing modern technologies, creating new jobs, and strengthening Ukraine’s position as a producer of high-quality glass.

ITOXI CEO Alex Cheon highlighted that the agreement to acquire a share of the company related to this project is currently being finalized.

The commissioning of the factory in the Kyiv region is expected in 2027, while the Ivano-Frankivsk region plant’s launch is slated for 2028. The first plant’s production capacity is projected at 600 tons of glass daily, with the overall project cost estimated at $140M.