Business news from Ukraine

ARCELORMITTAL SIGNIFICANTLY CUTS POWER CONSUMPTION IN UKRAINE IN 2017

Public joint-stock company ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) cut consumption of all types of energy in 2017: the total power consumption was 25.231 GJ per tonne of liquid steel.
The company said in a press release on Tuesday that for 2018 it is planned to have 25.198 GJ of power consumption.
ArcelorMittal Kryvyi Rih still introduces “green” technologies, which allows using alternative fuels to reduce the use of conventional energy.
“Our goal is to save about $5 million by increasing energy efficiency in 2018,” Head of the energy efficiency department Oleksandr Yefremov said.
According to the press service, more than 70% of all energy consumed by the company are electricity and gaseous fuels (natural, blast-furnace, coke oven gases). The structure of energy consumption also includes water, steam, air blast and oxygen.
ArcelorMittal Kryvyi Rih is the largest producer of steel products in Ukraine. Its core business is production of long products, in particular, reinforcement and wire rod.

UKRAINIAN PM AND WORLD BANK VICE PRESIDENT DISCUSS REFORMS AND COOPERATION

Prime Minister of Ukraine Volodymyr Groysman and World Bank Vice President Cyril Muller have discussed the policy of reforms and the agenda for cooperation.
“This year we focus on economic growth. Thanks to the World Bank for supporting Ukraine on this path,” Groysman wrote on his Twitter page after a meeting with World Bank Vice President Cyril Muller.
According to Groysman, at the meeting the parties discussed the policy of reforms and the agenda of cooperation.

NOVBUD SEEKS TO START BUILDING NEW RESIDENTIAL COMPLEXES FOR OVER 100,000 SQ M

Nodbud LLC (Kyiv region) seeks to start implementing four new residential complex projects in Kyiv and its suburbs with a gross area of over 100,000 square meters in 2018, the company’s press service has reported, referring to Head of the project management department of Novbud Dmytro Tkachenko.
“Construction and commissioning of over 120,000 square meters in the projects under construction are planned for 2018. So, at the end of the first quarter, the first stage of the New Teremky residential complex is planned to be commissioned – four 10-storey houses with 200 apartments with a total area of 10,000 square meters. This year it is planned to commission the Kriukovschyna Quarter residential complex (seven sections, 450 apartments with an area of 23,000 square meters),” Tkachenko said.
In addition, this year the company will continue construction of the Petrovsky Quarter large residential complex. The project is implemented on the land parcel of 50 hectares and envisages construction of 99 houses, 53 of which are already inhabited. Total living area is 340,000 square meters.
“Now, 20 houses of Petrovsky Quarter are at the stage of commissioning, 33 more houses are in the process of construction and design,” he said.
He said that under the project the company has already opened a kindergarten for 100 children and an elementary school for 80 students, which is accredited as a general education school of I-III level.
According to the press release, Novbud was founded in 2007. In its portfolio has more than 220,000 square meters of real estate put into operation in Kyiv and its nearest suburbs. In 2017, the developer commissioned more than 70,000 square meters of housing.

UKRTELECOM SEES NET PROFIT 44% UP IN 2017

Public joint-stock company Ukrtelecom saw net profit of UAH 867 million in 2017, which is 44.3% more than in 2016, Ukrtelecom CEO Yuriy Kurmaz said at a press conference in Kyiv on Wednesday.
He said that after the audit of the company conducted in 2017, the earlier published figure for net profit for 2016 was changed from UAH 244 million to UAH 601 million.
Kurmaz said that net revenue of the operator grew by 1.7% in a year, to UAH 6.654 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) grew by 4.9%, to UAH 1.867 million, EBITDA margin – by 1.8 percentage points, to 28.1%.
Capital investment fell by 0.7%, to UAH 948 million.
Kurmaz said that the data is presented, taking into account the stop of operations on the occupied areas of Donetsk and Luhansk regions.
Ukrtelecom is the largest fixed communications operator in Ukraine.

NCCR APPROVES RESOLUTION ON FEES FOR ISSUE OF 4G LICENSE FOR 2300 MHZ

The National Commission for Communications and Informatization Regulation (NCCR) has approved a draft resolution on the fees for the issue of 4G licenses for the 2300 MHz band required for holding the 4G communication tender and sent it to the Cabinet of Ministers of Ukraine.
“The starting cost for the use of the 1 MHz band in all regions of Ukraine in the 2300 MHz spectrum is proposed to be determined at the level of UAH 762,963,” a source close to the regulator told Interfax-Ukraine.
This estimated cost of the 1 MHz band will be valid for calculating the cost of licenses for the 4G communications in the 2345-2400 MHz spectrum.
The press service of the commission said that the draft document was drawn up, taking into account the results of research work studying the status of the distribution of radio frequency spectrum of Ukraine carried out by the foreign advisor Analysys Mason Limited and adopted by the working group on the introduction of the 4G mobile communication system.

UKRAINE SEES PRODUCTION OF MEAT RISE BY 0.4%, EGGS BY 2.5%, MILK FALL BY 0.7% IN JANUARY

Production of milk in Ukraine in January 2018 (excluding the temporarily occupied territory of Crimea and Sevastopol, part of the ATO zone) decreased by 0.7% compared to the same period in 2017, to 573,000 tonnes.
The State Statistics Service said meat production (live weight) in January amounted to 300,000 tonnes, which is 0.4% more than in the same period in 2017.
Production of eggs increased by 2.5%, to 1.081 billion units.
As reported, with reference to statistics, milk production in Ukraine in 2017 decreased by 0.5% compared to 2016, to 10.329 million tonnes, meat (in live weight) by 0.4%, to 3.259 million tonnes. Production of eggs in 2017 rose by 3.2%, to 15.578 billion units.