Business news from Ukraine

Business news from Ukraine

FOUR AIR QUALITY MONITORING STATIONS TO BE CONSTRUCTED IN KIEV IN 2020

Four air quality monitoring stations will be constructed in Kyiv in 2020, the press service of Kyiv City State Administration (KCSA) has said. “The first four air quality monitoring stations will be constructed on the left bank of the Dnipro River in Kyiv in 2020. The construction of a chemical treatment system will also be launched at the Energia incineration plant,” reads the statement.
Kyiv City Council has allocated funds from the budget for the construction of the air quality monitoring system, the press service said.

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NORDIC ENVIRONMENT FINANCE CORPORATION WILL PROVIDE UKRAINIAN MUNICIPALITIES WITH EUR 12 MLN LOAN

The Nordic Environment Finance Corporation (NEFCO) will provide Ukrainian municipalities with loan financing of EUR 12 million to modernize water supply facilities, increase their energy efficiency and for wastewater treatment.
NEFCO and the European Union representative office in Ukraine announced the launch of an appropriate program to modernize the water supply system in Ukraine as part of the Neighborhood Investment Platform (NIP) on January 15.
As part of this program, NEFCO issued EUR 12 million for lending to Ukrainian local authorities. The EU contribution is EUR 5 million in grant assistance, and Sweden will provide technical assistance of up to EUR 1.5 million through the Swedish International Development Cooperation Agency (Sida).
As expected, water supply companies will finance part of the projects at their own expense.
“The water sector in Ukraine is in need of major investments to modernize the system, as little has been done after the collapse of the Soviet Union in the early 1990s. Tariffs do not cover the costs, and water utility companies, over 80% of them owned by municipalities, have found it hard to cope with the investments required. As a result, the performance of many of the utilities has become inefficient due to deteriorated infrastructure. A large part of the pipeline networks, pumps and water treatment and purification plants are worn out or do not meet the necessary standards,” NEFCO said on its website.
NEFCO is an international financial organization created in 1990 by the countries of Northern Europe. Its activities are related to financing practical activities that promote “green” growth.

FIRES KILL 133 PEOPLE IN UKRAINE SINCE BEGINNING OF 2020

As many as 133 people died and 99 people were injured as a result of fires in Ukraine since the beginning of 2020, the State Emergency Situations Service has said.
“Some 133 people died and 99 people were injured as a result of fires in Ukraine since the beginning of 2020. More than a half of 2,268 fires broke out in citizens’ dwellings,” reads the statement.

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QUARTER PARTNERS BUYS PART OF SHARES IN DOC.UA SERVICE

Quarter Partners, a private investment fund, has bought shares in the DOC.UA online medical service, the fund said in a press release. The amount of the transaction is not disclosed.
According to Quarter Partners, in 2020 it is planned to launch the DOC.UA service in Uzbekistan, Kazakhstan, and Moldova. The markets of Georgia, Azerbaijan, the Baltic countries and the UAE are also under development.
The head of the supervisory board of EFI GROUP (a group of companies that is the majority owner of the service), Ihor Liski noted that attracting such investments will bring the service to a new level.
“We continue to improve our innovative practices, strengthen the team and its effectiveness. Therefore, Quarter Partners is a reliable partner for us, able to support bringing the project to a new level,” he said.
EFI GROUP (Effective Investments) operates in various sectors of the economy: pulp industry, gas industry, energy, agriculture, woodworking, creative industry, and healthcare.
The DOC.UA service monthly serves more than 700,000 requests. A base of more than 10,000 doctors and 1,700 medical institutions in Ukraine is available to DOC.UA customers.
Quarter Partners fund invests in businesses with a high growth potential for their development and subsequent sale to strategic investors. The founder of the fund is Ukrainian investor Andriy Ivanov. Quarter Partners completed deals on equity raising and selling to strategic investors totaling over $5 billion.

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DEADLINE FOR LAUNCHING METRO TO VYNOHRADAR POSTPONED FOR A YEAR

The deadline for completing construction work to extend the Syretsko-Pecherska line of Kyiv Metropoliten is postponed for a year, Oleh Tokarev, the head of the supervisory board of PJSC Kyivmetrobud, the project’s general contractor, has said at a press conference at Interfax-Ukraine. “The deadline has been disrupted for one year. The launch is postponed for a year,” he said.
“I think it [construction according to the schedule] won’t be completed. Today, the lag is not less than 7-8 months,” Yevhen Shataikin, the chief engineer for the construction of subway to Vynohradar, said.
According to him, currently the work is not carried out in full.
“Since Oleksandr Metelytsia had been actually moved away from solving problems, a systematic non-fulfillment of the schedule began. We were set aside from the process of purchasing equipment. The equipment that was purchased today does not work in full with the speed we foresaw. We are falling behind schedule,” he said.

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