Despite Russia’s aggression, businesses continue to invest in Ukraine’s economy, signaling confidence in Ukraine’s market potential.
In February 2025, NovaSklo, Ukraine’s glass manufacturing plant, unveiled plans for a €240 million float glass manufacturing plant in the Kyiv region. The first phase, set for completion by 2028, will create 300 jobs.
The company is already laying the groundwork for a second phase to expand production if demand rises.
“Glass manufacturing is a complex industry with significant risks, so we carefully selected our technology and partners,” said Ihor Liski, founder and Chairman of the Supervisory Board of Effective Investments Group (EFI Group) and NovaSklo’s primary investor. “We chose German equipment from HORN (Horn Glass Industries) and an international team of experts with experience launching similar factories. Thanks to our strategic location, access to high-quality quartz sand, and support from international financial institutions, we can implement this project quickly and efficiently.”
Germany plays a key role in the project, with Horn Glass Industries supplying the equipment. The €97 million equipment purchase is backed by a loan guaranteed by Germany’s export credit agency, according to Forbes.
The Ukrainian government is also supporting the initiative. “The state has introduced several incentives that will compensate up to 30% of the project’s capital costs,” said Ukraine’s Deputy Minister of Economy, Andrii Teliupa. Additional incentives are available for businesses investing at least €12 million.
Construction is set to begin by the end of 2025.
Why glass production matters for Ukraine
NovaSklo is one of several glass production projects in Ukraine. Ukraine’s investment and development company, City One Development, has also announced another facility. These investments are critical for both everyday economic needs and the country’s post-war reconstruction. Russia’s invasion has destroyed hundreds of thousands of homes, office buildings, and industrial facilities, all of which require new glazing.
Ukraine currently imports most of its glass, leading to high logistics costs that are passed on to consumers. Domestic production will help meet market demand while also stimulating related industries, such as quartz sand extraction, logistics, and small and medium-sized businesses serving end consumers.
