Business news from Ukraine

AGRO-HOLDING HARVEAST LAUNCHES SECOND STAGE OF IRRIGATION

HarvEast agro-holding on June 1, 2018 put into operation the second stage of irrigation, which provides irrigation on 740 hectares of land in Manhush district of Donetsk region. According to the press service of the company, as of June 1, 2018 about $2.5 million of investments have already been spent. “Seven sprinklers have been purchased and launched this year for hybridization of corn, sunflower, winter and spring rapeseeds and winter wheat: five sectional, one frontal and one circular. In addition, the agro-holding is drilling wells to feed water to the fields, building new and restoring the already existing infrastructure,” the company notes.
HarvEast plans next year to commission nine more sprinkling machines for 900 hectares in Donetsk region. In general, over five years it is planned to provide irrigation on at least 5,000 hectares of cultivated land.
“The implementation of irrigation became one of the most important strategic projects for HarvEast … We need a guaranteed high result, as we are actively developing the seed direction. This year we’ve started cooperation with four large international seed companies, we are building our own seed plant,” HarvEast Director General Dmytro Skorniakov said.
HarvEast is an agricultural holding. Its core business is crop production (growing wheat, sunflower, barley, perennial grasses, corn) and dairy farming.

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LARGEST UKRAINIAN PRIVATE ENERGY HOLDING DTEK WILL RETAIN BRAND CORUM

DTEK Energy, the largest Ukrainian private energy holding, will retain the machine building brand Corum, the press service of the holding has told Interfax-Ukraine. “Corum enterprises, which are part of DTEK Energy, will continue their work in the external competitive markets of machine building both in Ukraine and abroad. Corum will also retain its brand, which is already well known. In the structure of the company, Corum enterprises will be managed as a separate business unit within DTEK Energy,” the press service noted.
DTEK Energy added that the duties of Corum Director General are performed by Mykhailo Potapov.
As reported, previously DTEK Energy, part of DTEK Holding, acquired shares in PJSC Svitlo Shakhtaria, Druzhkivka Machine Building Plant LLC, and Mining Machines LLC, which were formerly part of Corum Group.
DTEK Energy is the operating company responsible for coal mining, generation and distribution of electricity in the structure of DTEK Holding.

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PRIORITY IN UKRAINIAN EXCHANGE DEVELOPMENT IS CREATION OF COMMODITY EXCHANGE

The strategic group at the Ukrainian Exchange (Kyiv) has developed a plan for further development of the exchange with the priority of creating a commodity exchange on its platform, the head of Dragon Capital investment company, the largest shareholder of the Ukrainian Exchange, Tomas Fiala, has said. “The priority now is creating a commodity exchange on the Ukrainian Exchange platform,” he said in an interview with Interfax-Ukraine.
According to him, the strategic group at the stock exchange has already developed a plan for its phased development, which includes building a modern infrastructure that offers investors effective access to various segments of the market – shares, bonds, commodity contracts, as well as futures that may include not only valuable securities, indices, currencies or precious metals.
Along with the development of infrastructure, it is planned to improve technical and client services at the Ukrainian Exchange. “Dragon Capital plans to continue supporting the development of the Ukrainian Exchange, in particular by making additional investments in capital. We are interested in efficient work of the stock exchange as a broker with the largest share of turnover in the stock market,” Fiala said.