Business news from Ukraine

PRESIDENT OF UKRAINE ZELENSKY: ‘EVERYTHING IS FINE’ IN RELATIONS WITH U.S.

President of Ukraine Volodymyr Zelensky believes that economic and geopolitical relations between Ukraine and the United States are at a good level, and they need to be improved without getting involved in internal political processes. “For me, good relations with the United States, which were different at different times, were important. I believe that the elections [in the United States] is a purely political issue, and certainly not the issue of Ukraine, but of the United States. Their president, their people, choose whom you want, we will support your choice,” he said in an interview with Israeli Channel 9.
Zelensky noted that when “some kind of story” began to develop after his telephone conversation with U.S. President Donald Trump in September, he did everything possible to prevent Ukraine from being drawn into this political issue.
“Because only economic and geopolitical relations are important between the countries that respect each other, regardless of nationality, religion, breadth, importance, availability of nuclear weapons. And I believe that in these two areas, economics and geopolitics, everything is good in our relations with the United States. This “everything is normal” needs to be improved, but certainly not worsened,” he stressed.

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STATE-RUN UKRAVTODOR TO BUILD AND RECONSTRUCT NINE ORBITAL ROADS

The State Automobile Roads Agency of Ukraine, also known as Ukravtodor, plans to build and reconstruct nine orbital roads of 101.5 km long in 2020, the press service of the agency said on Thursday. “Ukrainian cities should be freed from transit traffic, because it reduces the number of jams and improves the transit potential of the road network. In addition, it will positively influence traffic safety, air quality, the life of the road surface and reduce the number of accidents,” Head of Ukravtodor Oleksandr Kubrakov said.
In particular, in 2020, it is planned to continue the construction of the Northern orbital road of Zhytomyr, the Northern orbital road of Rivne, the South-Western orbital road of Poltava, the Southern orbital road of Dnipro, the orbital road of Dunaevtsy (on the section between Chernivtsi and Khmelnytsky). Also, work will begin on the construction of the Northern orbital road of Lviv and the Northern orbital road of Ternopil.
In addition, the company plans to build an orbital road in Kobeliaky, Poltava region during the construction of one of the priority facilities in 2020 (highway N-31 Dnipro–Reshetylivka).
The construction of an orbital road in Berehove is planned, which, according to Ukravtodor, will significantly increase the attractiveness of Ukraine in the international road transport market.
In addition, this year Ukravtodor plans to prepare a feasibility study and design documentation for additional orbital roads: the South-East road bypassing Dubno, the North-Western road bypassing Khmelnytsky, the Northern road bypassing Bila Tserkov, the road bypassing Stryi and the Kremenchuk orbital road with a bridge across the Dnieper River.

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UKRAINE LAUNCHES VIRTUAL GAS REVERSE FROM POLAND

Ukraine through the gas measuring station Drozdovychi has begun virtual reverse of natural gas from Poland, expects its launch from Slovakia and Hungary, Head of Gas Transmission System Operator of Ukraine LLC (GTSOU) Serhiy Makogon has reported. “Gas supplies from Poland have already begun by substitution (virtual reverse) through the Drozdovychi station,” he said on Facebook.
To date, the volume of virtual imports from Poland is 5.5 million cubic meters. Since now transit to this country is 9.1 million cubic meters, 3.6 million cubic meters will be physically delivered to Poland, the head of the GTSOU said.
Makogon recalled that earlier, according to the previous transit contract with the Russian Federation, virtual reverse operations were not available to Ukraine: all volumes of gas had to be physically exported to Poland through Drozdovychi, and the volume necessary for Ukraine, in turn, was returned back through Hermanowice. Currently, there are no such restrictions; the country can import the entire amount of gas that physically goes there from Poland through virtual reverse supplies.
“Import from Poland also includes import of gas from the Polish LNG terminal. That is, right now, Ukraine can commercially import up to 9 million cubic meters per day or 3.3 billion cubic meters of gas from the Polish terminal via virtual reverse. I repeat: physically, the Ukrainian gas transmission system is ready to accept up to 6.6 billion cubic meters per year from Poland, but so far Poland, until the completion of a number of works in its gas transmission system, can only physically supply about 2 billion cubic meters,” the head of the gas transmission operator said.
“We expect that in the near future virtual reverse supplies will be launched in Slovakia and Hungary. The operators of these countries are working on this task. For our par, we are ready,” Makogon said.
Virtual reverses supplies involve the exchange of natural gas between gas transmission system operators when the gas does not physically move across the border and the parties offset.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 24

Official rates of banking metals from national bank as of january 24

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 24/01/20

National bank of Гkraine’s official rates as of 24/01/20

Source: National Bank of Ukraine

HORIZON CAPITAL INVESTMENT COMPANY TO INCREASE ASSETS IN UKRAINE AND MOLDOVA TO OVER $1 BLN

Horizon Capital investment company to increase assets in Ukraine and Moldova to over $1 bln
DAVOS. Jan 24 (Interfax-Ukraine) – Horizon Capital, an investment company currently managing assets in Ukraine and Moldova in the amount of about $850 million, intends to exceed the asset level under management of $1 billion in the near future, Lenna Koszarny, the CEO of the company, has said. “Our main plans are as follows: we will manage more than $1 billion in the near future. These are our direct investments, co-investor funds and debt financing,” she told Interfax-Ukraine on the sidelines of the Ukrainian House, organized by the Pinchuk Foundation, WNISEF and Horizon Capital in Davos.
She said that Emerging Europe Growth Fund III (EEGF III) fund, worth $200 million, the formation of which was completed a year ago, has already made nine investments in Ukraine.
“And we are closing two more deals: the tenth and 11th investments are companies that are developing rapidly,” she said, without specifying the details before the completion of transactions.
She emphasized that the company intends to remain the leader in its sector.
Horizon Capital was founded in 2006 by four partners who began their cooperation with Western NIS Enterprise Fund (WNISEF), an investment fund created for the funds of the U.S. government in 1994 with a capital of $150 million for Ukraine and Moldova. Currently, the major shareholder and CEO of Horizon Capital is Koszarny. The company has offices in Kyiv and Chicago.

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