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.
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.
Official rates of banking metals from national bank as of january 24
One troy ounce=31.10 grams
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
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.
Ukrainian government has to work to promote “sustainable optimism,” to do something the people would really believe in, said Economist Robert J. Shiller, 2013 Nobel Laureate in Economics. “We need the optimism that we see now in Ukraine to be sustainable. We do not look at the latest growth numbers as an indication of success, but we have to look at how the culture is changing,” the economist said at a Ukrainian breakfast hosted by the Victor Pinchuk Foundation in Davos. Shiller emphasized the importance of cultural change in Ukraine through education, especially regarding corruption perception.
“We do not look at the latest growth numbers as an indication of success, but we have to look at how the culture is changing,” the Nobel laureate said.
Chief Executive Officer of General Atlantic Bill Ford added that Ukraine was lucky to have a powerful education system and very strong engineering talents.
“But that talent has to believe in the opportunity and return to Ukraine and develop business here. Ukraine is going to see a generation of young people who will build digital businesses within Ukraine. I think that the thing that will really create enthusiasm and confidence for the country is young entrepreneurs who will build real businesses and real success in bringing technology in,” the expert noted.
He emphasized that other components of success are the fight against corruption and the rule of law.
“Ukraine’s problem with the corruption is not so much the corruption itself but the perception of corruption,” Co-Founder and Co-Executive Chairman of The Carlyle Group David M. Rubenstein said at the Ukrainian breakfast in Davos. He explained that many investors eager to invest in emerging markets because they are seeking higher rate of investment return are afraid of being criticized because even though you did nothing wrong, because of that perception of the corruption, people would think you do something wrong.
“I think, Ukraine has to work on its image as well as the reality. I think that the government is interested in attracting foreign capital and getting rid of the perception of corruption as well as the reality,” he added.
Businessman and philanthropist Victor Pinchuk also emphasized that Ukraine, along with continuing reforms and confronting Russian aggression, needs to build a strong narrative.
“Many agree that in terms of reforms and defending against the aggression, Ukraine’s leadership does a job that is not bad at all. The narrative is also crucial. We must be everywhere and show simply the truth. It is not all white but much whiter than the stereotype,” Pinchuk said.
