Tobacco company Philip Morris will build a new factory in Ukraine for $30 million
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The American tobacco company Philip Morris International (PMI) has decided to invest more than $30 million in the construction of its new factory in the Lviv region of Ukraine. PMI said production will start in the first quarter of 2024.
“We are proud to announce this new investment in Ukraine. Our new facility will provide a reliable supply of products and employment opportunities for Ukrainians,” said Massimo Andolina, President of the European division of Philip Morris International (quoted from site companies).
It is assumed that the launch of the new production “will allow the company to fully meet domestic demand, create hundreds of new jobs and support Ukraine’s economic growth today and in the future.” Preparatory work for the construction of the factory will begin in July 2023. Representatives of the company added that about 250 people will work at the factory.
PMI notes that the company has been operating in the Ukrainian market since 1994 and during this time has invested more than $700 million in the Ukrainian economy. After the start of the Russian military operation in Ukraine, the work of the Philip Morris International factory in the Kharkiv region was stopped due to shelling. The tobacco company is not yet ready to resume its work “for security reasons.”
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