NovaSklo (Ukrainian for ‘New Glass’) is a wholly owned subsidiary of EFI Group, a diversified Ukrainian industrial development company and will lead the project’s implementation. According to the agreement, IFC, in partnership with Japan, will provide NovaSklo with advisory services and capacity-building assistance, focusing on feasibility analysis, risk assessment, and the adoption of international best practices in project development and sustainability, with the objective of supporting the company in attracting long-term financing for the development of the project in the future.
With an estimated investment of approximately 250 million euros, the project will create over 300 new jobs, with additional employment generated through local suppliers, logistics providers and related industries. The project will also introduce state-of-the-art technologies for energy-efficient and environmentally friendly glass manufacturing, reduce reliance on costly imports and contribute to the emergence of a new industrial sector in Ukraine, thereby strengthening the country’s economic resilience.
NovaSklo
The project envisions the construction of a state-of-the-art float glass plant in the Kyiv region. The NovaSklo project will aim to adhere to the IFC Sustainability Framework to ensure that the new facility meets highest international standards in environmental protection, occupational health and safety, and social responsibility.
NovaSklo has also entered into a technical partnership agreement with the Nippon Sheet Glass Group, one of the world’s leading glass manufacturers and a global industry innovator from Japan, to provide technical expertise and advanced process solutions.
Following the completion of the preparation phase, the project aims to attract long-term financing for the project’s development, with IFC as the lead partner in providing and mobilizing the required financing. This agreement marks an important milestone in the development of Ukraine’s industry and demonstrates the confidence of international financial institutions in the country’s investment potential even in challenging times.
About NovaSklo:
NovaSklo is a Ukrainian company implementing the project to create Ukraine's first high-tech float glass manufacturing plant in the Kyiv region. The project is developed by the investment and industrial company EFI Group, and implemented in partnership with leading European float glass equipment manufacturers. For more information about NovaSklo visit www.novasklo.com.
NovaSklo
