Ukraine to get $278 m float glass plant

Hostomel Auto Logistic Service plans to build a plant for manufacturing glazed float glass in Chernihiv region.

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, said Dmytro Oliynyk, who owns a 34% interest in Hostomel Auto Logistic Service.That is almost twice the capacity of the dominant player on the Ukrainian glass market, Lysychansk Proletariat Glass Factory.

Hostomel Auto Logistic Service is currently seeking financing for the project, which is provisionally expected to cost $278 million. The company will provide some of the investment on its own. It plans to secure the rest by attracting an investor that will take a stake in the project. The construction will take three-five years, depending on the financing terms.

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600450 Ukraine to get $278 m float glass plant
Date: 24 March 2010

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