Co-owners of OBIO LLC (Zhytomyr), which produces basalt thermal insulation under the IZOVAT trademark, will invest EUR 30 million in the construction of a new glass wool insulation plant in Zhytomyr.

"We are building a new plant for the production of glass wool in the Zhytomyr region. The main reason to build a plant for the production of glass wool is to replace imports, which mainly come from Russia and Belarus. The second reason is to strengthen our position in the Ukrainian thermal insulation market by introducing a second product into the range row," the co-owner of OBIO LLC, Serhiy Lischyna, wrote on his Facebook page.

According to him, the annual capacity of the enterprise will be 18,000 tonnes, which will cover about 70% of the needs of the Ukrainian market.

"After the plant starts operating, the market situation in the glass wool segment will change dramatically. We will try to occupy the bulk of the local thermal insulation market, increase our share and strive to become the absolute leader," Lischyna said.

He did not specify the location of the new plant, but said that the site is located next to the Biomedsklo plant. The facility is located at 26, Promyshlennaya Street in Zhytomyr, not far from the OBIO plant (6, Promyshlennaya Street).

"It is planned to create 150 jobs. Since the technology of glass wool production is partially similar to the technology of glass production, we will attract specialists from glass factories. In Ukraine, this industry is quite developed. The Biomedsklo plant is next to our site. Partially we will also involve our specialists with the production of stone wool for training new workers in the technology of production of heat-insulating materials," the businessman said.