Business news from Ukraine

EBRD WILL ISSUE EUR 25 MLN TO MHP FOR BUILDING BIOGAS PLANT

KYIV. Dec 4 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) will issue a loan of EUR 25 million to Myronivsky Hliboproduct (MHP) for the construction of a 10 MW biogas plant in Vinnytsia region.
According to a report on the bank’s website, the bank’s board of directors approved the corresponding project on November 29.
This project will support MHP’s strategy to increase energy efficiency and improve the environmental impact on the environment, the EBRD said.
The total cost of the project is estimated at EUR 27 million.
The construction of a biogas plant is aimed at using the waste of the existing poultry facilities in Vinnytsia region to produce biogas, which will be used as an alternative energy source thanks to modern technologies.
As a result, it is expected to reduce greenhouse gas emissions by the equivalent of 85,500 tonnes of carbon dioxide a year.
Myronivsky Hliboproduct is the largest poultry producer in Ukraine. It is also engaged in production of cereals, sunflower oil, and meat.

ENERGOMARKET OPENS UAH 2 BLN CREDIT LINE IN OSCHADBANK

KYIV. Dec 4 (Interfax-Ukraine) – State-owned enterprise Energomarket has opened a closed-end credit line with a limit of UAH 2 billion in Oschadbank (Kyiv).
The electricity wholesale market operator said in the ProZorro e-procurement system that the agreement was signed on November 30, 2017.
The cost of the financing is UAH 379.6 million (VAT not included). The credit line is opened for 12 months.
As reported, the Cabinet of Ministers of Ukraine on October 18, 2017 allowed Oschadbank to issue a credit line in the amount of up to UAH 2 billion to state enterprise Energomarket for coal purchases. Energomarket will use the funds attracted to pay off debts to energy generating companies, while the latter will spend them on purchase of coal.
Energomarket planned to raise UAH 2 billion to pay the debt to energy generating companies accumulated before September 1, 2017.