Hostomel Auto Logistic Service has announced that it plans to build a float glass plant in the Chernihiv region of Ukraine, to be completed in three-five years.
According to Dmytro Oliynyk, who owns …
Hostomel Auto Logistic Service has announced that it plans to build a float glass plant in the Chernihiv region of Ukraine, to be completed in three-five years. According to Dmytro Oliynyk, who owns a 34% interest in Hostomel Auto Logistic Service, the plant will have capacity to produce 600 tonnes of float glass a day rising to 1,200 tonnes a day within two-three years. This is almost twice the capacity of Lysychansk Proletariat Glass Factory, the dominant player on the Ukrainian glass market. Hostomel Auto Logistic Service is seeking financing for the USD 278 million project, and will also provide some of the investment on its own. The remaining part is expected to be secured by attracting an investor that will take a stake in the project. Other than Oliynyk, who is also president of Steklo Ukrainy, a glass industry association, the other owners of Hostomel Auto Logistic Service are Yakiv Hribov (33%), one of the co-owners of Ukrainian distiller Nemiroff, and Ihor Chervonenko (33%) the brother of the first deputy mayor of Kyiv city administration. Plans to build a USD 400-million float glass plant in Donetsk region had been announced previously by the Altcom group, which said that imports from China currently account for 70% of Ukraine“s glass market.