The enterprises of Metinvest Group, the largest Ukrainian mining and metallurgical holding, according to the results of operational improvement measures implemented in January-March 2020 brought $53.8 million of economic effect, of which about $25 million fell to Mariupol-based Illich Iron and Steel Works and Azovstal Iron and Steel Works.
The Metinvest-Mariupol division said on its Facebook page on Monday, May 4, that the greatest result was made by Azovstal, which reduced electricity consumption in the thick-sheet workshop and significantly reduced the length of the sheet production by using a manual marker for machine sheet marking after hot plate leveller. In the lime-burning workshop, the amount of calcine limestone was increased by 2% at a similar gas flow rate due to a change in the torch type of the furnace burner. Due to the implementation of these and other measures, the metallurgical plant saved $17.6 million.
In turn, Illich Iron and Steel Works in the first quarter following the replacement of four furnace carriage coke feed in the blast-furnace workshop with the three furnace carriage coke feed reduced coke and electricity consumption. In the lime-burning workshop, an increase in the load weight of 60 kg per furnace carriage allowed to save natural gas, without reducing the productivity and quality characteristics of the products. Due to a qualitatively new interaction between the remote sections of combined heat and power plants (CHPP), which previously belonged to CHPP-1 and CHPP-2, the minimum emission of blast furnace gas to flare was achieved and additional electricity generation was obtained. The economic effect of operational improvements introduced at the plant amounted to $7.3 million in January-March 2020.
Metinvest Group is a vertically integrated group of steel and mining companies that manages every link of the value chain, from mining and processing iron ore and coal to making and selling semi-finished and finished steel products. It comprises steel and mining production facilities located in Ukraine, Europe and the United States, as well as a sales network covering all key global markets. Metinvest business is divided for financial reporting purposes into two segments: metallurgical and mining. The group ended the first quarter with revenues of $2.9 billion and an EBITDA margin was 15%.
Metinvest Holding LLC is the management company of Metinvest Group.
The project of the Dunaya resort in Odesa region provides for attracting private investments of $2.5 billion, replenishing the hotel rooms with 20,000 rooms and creating 25,000 jobs, Fazil Askerov, the chairman of the board of the Odesa region tourism association, has said.
“This is the Dunaya resort town. The state company Dunaya. A year-round resort with a gambling zone. It will be located on the spit (part of the spit is a dam) between Sasyk Lake and the Black Sea. More than 500 hectares, the embankment is over 10 km. More than 80 hotels, the smallest with 150 rooms, and the largest with 1,000 rooms,” he said on Facebook.
The project provides for the opening of the first hotels in 2022, Askerov said. According to the plan, the resort will receive the first million tourists in 2025, and by 2030 their number will reach 6 million annually.
“After the quarantine is over, we will definitely hold a public presentation of the project for the general public,” he wrote.
He added that the project was created on the initiative of President of Ukraine Volodymyr Zelensky, the project’s architect was Serhiy Husev’s team, and one of the ideological authors was the chairman of the Verkhovna Rada’s Committee on Economic Development, Dmytro Natalukha. In addition, according to him, Mikheil Saakashvili presented the project at the parliamentary hearings in 2016.
Wizz Air, the Hungarian low cost airline, invested more than $100 million in a new base at Lviv International Airport, which it is planning to open on July 1, 2020, Wizz Air Chief Commercial Officer George Michalopoulos said.
“When we usually open More…
Kyivstar shareholders at an extraordinary meeting on April 28, 2020 made staff changes in the company’s supervisory board.
According to the company, in particular, Yogesh Sanjeev Malik (VEON Chief Technology Officer) and Kirkgez Murat (VEON Group Deputy Chief Financial Officer) were reappointed for three years.
In addition, the company’s shareholders included Alex Kazbegi (VEON Group Chief Strategy Officer), Sergi Herrero (VEON Group Co-Chief Executive Officer) and Kaan Terzioğlu (VEON Group Co-Chief Executive Officer, Board Chairman of Russia’s VimpelCom, previously was the chief executive officer of Turkcell).
At the same time, the shareholders dismissed the head of the supervisory board and removed Kjell Morten Johnsen from the board, and also removed Jacky (Morrissey) Simmonds (VEON Group Chief People Manager) from the supervisory board.
Kyivstar is the largest Ukrainian telecommunications operator. It provides communications and data transfer services based on a wide range of mobile and fixed technologies, including 3G. By the end of 2018, its services were used by about 26.4 million mobile subscribers and about 900,000 fixed Internet customers.
British Cadogan Petroleum Plc with assets in Ukraine in 2019 saw $2.102 million of net loss compared with $1.2 million of net profit in 2018, the company has reported on the website of the London Stock Exchange (LSE) on Monday.
According to the report, operating loss was $2.127 million compared with operating profit of $0.403 million in 2018. Gross revenues fell by 60%, to $5.9 million.
National bank of Ukraine’s official rates as of 05/05/20
Source: National Bank of Ukraine
