20 Jun 2023 15:31

Philip Morris International to invest over $30 mln in building new production facility in Ukraine's Lvov region

MOSCOW. June 20 (Interfax) - Philip Morris International (PMI) will invest over $30 million to launch a new production facility in Ukraine's Lvov region, Ukrainian media reported, citing the company's press service on Tuesday.

Preparatory work for building the future production facility will begin in July 2023, the statement said. The company expects the production to be launched in Q1 2024.

"By opening this new facility, we once again demonstrate our support for Ukraine. This investment reflects our commitment as Ukraine's long-term economic partner," Philip Morris Ukraine CEO Maxim Barabash said.

Philip Morris Ukraine has been operating on the Ukrainian market since 1994 and has invested over $700 million in the Ukrainian economy since then. The company has paid UAH 25.3 billion in taxes in Ukraine in 2022.