“Corum Druzhkovka Machine-Building Plant (Corum DrMZ), a part of Corum Group (DTEK Energy), is completing the production of a second main ventilation fan to replace the worn-out analogue at Zakhidno-Donbaska mine, the plant reports on its Facebook page.
“At the end of 2023, the plant manufactured the first VSDC-4.5SM fan (left) for the same mine. The fan that is currently in production is a mirror version of the previous one,” the statement said.
The plant reminds that the main ventilation fan provides fresh air to the mine, maintaining conditions for continuous operation. The diameter of its impeller is 4.7 meters, the rated capacity is 400 cubic meters per second. The maximum power is 4000 kW.
Due to the large size of the fan and its weight (105 tons), the final assembly will be carried out during installation at the mine.
“Corum DrMZ also reminds that it mastered the production of mine fans in 2014 (after Corum lost Donetskgormash, which specialized in this equipment – IF-U).
“The plant has three fans of this type in production. However, this will be the second fan that Corum DrMZ will produce under the relocation conditions,” the statement said.
Currently, the plant is gradually shipping fan assemblies to the mine for installation.
Corum DrMZ, which was relocated to Dnipro in 2022, according to the report, produced 407 units of mining equipment in January-September 2024 (including 9 units in September), including two new and one repaired roadheader. The company also produced 695.78 thousand units of components and spare parts (69.48 thousand in September).
“The main efforts in September were focused on the production of steel structures for the concentrator, which was a new experience for the company,” the plant said.
Corum Group is a leading manufacturer of mining equipment in Ukraine. It is a part of DTEK Energy, an operating company responsible for coal mining and coal-fired power generation within Rinat Akhmetov’s DTEK energy holding.
In January-September 2024, PrJSC Ukrainian Financial Housing Company (Ukrfinzhytlo), which manages the state program eHouse, increased its assets by 23% to UAH 74.9 billion.
According to Ukrfinzhytel’s financial statements, the company’s retained earnings have increased by 51% since the beginning of the year to UAH 8.9 billion.
As of September 30, 2024, the company’s financial investments in securities amounted to UAH 54.3 billion, and loans for UAH 14 billion were received, of which repurchase agreements amounted to UAH 5.3 billion and long-term loans – UAH 7.7 billion.
In the third quarter, Ukrfinzhytlo signed agreements on opening credit lines with JSC FUIB (up to UAH 1.5 billion), JSC Cominbank (up to UAH 250 thousand), JSC TAScombank (up to UAH 300 thousand and UAH 90 thousand).
The eOselya affordable mortgage lending program was launched in Ukraine in October 2022. Contract servicemen of the Armed Forces of Ukraine, employees of the security and defense sector, healthcare workers, teachers, and researchers can apply for a preferential mortgage at 3% per annum for up to 20 years with a down payment of 20% of the cost of housing.
Starting from August 1, 2023, war veterans, combatants, internally displaced persons (IDPs) and citizens who do not have their own housing larger than the standard area can apply for the eHouse program at a 7% discount.
Under the terms of the program, privileged categories of participants and IDPs can purchase housing in a building under construction and buildings not older than 10 years (in the capital and regional centers), while other participants can purchase housing in a building not older than three years or a building under construction.
The program involves 10 partner banks: state-owned Oschadbank, PrivatBank, Ukrgasbank, Sens Bank, as well as MTB Bank, TAScombank, Globus Bank, Sky Bank, Credit Dnipro Bank, and BISBANK.
As of October 30, 13.8 thousand families have purchased their own housing for more than UAH 22.3 billion, according to Ukrfinzhytl.
Ukraine can become a member of the European Union (EU) within the next five years, provided that it implements all the necessary reforms, European Commissioner for Enlargement Oliver Varghese said at a press conference in Brussels on Wednesday.
According to Deutsche Welle, Varghese said that additional tools have been created for Ukraine, Moldova and the Western Balkans to “help them accelerate reforms.”
“These tools are called the Growth Plan, the Ukraine Plan, depending on the country. And with the help of this plan, we have made it possible for the Western Balkans, Moldova, and Ukraine to complete reforms in order to prepare everything and become an EU member by the end of the next European Commission mandate,” he said.
On September 30, a report on EU enlargement was presented in Brussels, which describes the progress of the candidate countries.
At a summit in Brussels on June 23, 2022, the European Council granted Ukraine candidate status in the EU. Kyiv has to implement several important reforms related to the rule of law, oligarchs, and corruption, among other things.
In the first 9 months of 2024, Kovlar Group’s production increased by 100% compared to the same period in 2023.
According to the company, the main consumers of fire protection in 2024 were system developers of commercial real estate and infrastructure.
“The key components of this growth are the adaptation of the production cycle to wartime conditions and the high competitiveness of Ammokote products,” said Konstantin Kalafat, CEO of Kovlar Group.
Today, the company continues to carry out research and development activities to develop new promising fire protection materials necessary for the reconstruction of Ukraine. This allows us to keep the development of the Ukrainian fire protection industry at the global level and significantly reduces the import dependence of the domestic fire protection market.
Today, Kovlar Group is the largest Ukrainian manufacturer of fire protection products, which occupies about 60% of the Ukrainian fire protection materials market and offers more than 20 products under the Ammokote brand.
At least 64 people have died due to flooding caused by heavy rains in Spain, EFE news agency reported on Wednesday.
“The authorities of the autonomous community of Valencia, which was most affected by the floods, confirmed that 62 people died (…), while two victims were found in the autonomous community of Castilla-La Mancha,” the agency reports.
In addition, several people went missing in both communities. Search and rescue operations continue in Valencia and Castilla-La Mancha. In Valencia, the floods caused power outages. Several flights were canceled at Valencia airport. In addition, rail and road connections in the region have been partially disrupted.
Spanish Prime Minister Pedro Sanchez said that dozens of cities were flooded and warned that the danger to the population was not over yet.
“For those who are looking for their loved ones: the whole of Spain feels your pain. Our priority is to help you. We are using all the necessary resources to recover from this tragedy,” Sanchez said in a televised address.
Spanish emergency response units have sent more than a thousand employees to the flood-affected areas of the country. In addition, the Spanish government has set up a crisis committee to coordinate rescue efforts.
The National Meteorological Service of Spain has introduced a “red”, the highest, level of weather danger in the region. According to forecasters, the rains will continue at least until Thursday.
The European Bank for Reconstruction and Development (EBRD) is providing Kormotech, a leading Ukrainian pet food producer, with a financing package to increase exports and geographic diversification by building a second pet food plant in Lithuania, the EBRD press service reports.
According to the release, the total cost of the Kormotech project will be EUR63 million.
The allocated financing package is a EUR40 million A/B syndicated loan, of which EUR20 million will be provided by the Dutch SDG-focused asset management fund ILX Fund.
The bank has previously provided EUR 15 million to Kormotech Group, a long-standing EBRD client, for the construction of its first plant in Lithuania, which began operations in June 2020. The bank also provided a EUR3.3 million loan to the company to replenish working capital during the Covid-19 pandemic in 2020.
The EBRD loan is accompanied by grant financing, including a grant from the Japan-EBRD Cooperation Fund, which partially covers the costs of external lawyers. The grant funding will also partially cover the cost of new workplace equipment that will create new livelihoods for groups that need more attention, including women and people with disabilities. This component is being implemented as part of the EBRD’s new program aimed at stimulating capital investment.
The loan is provided to the Group’s holding company Vengast Investments Ltd (Cyprus) and its subsidiary in Lithuania, Kormotech UAB.
The EBRD is the largest international financial investor in Ukraine. Since the beginning of the war in 2022, the bank has provided EUR 5 billion to the Ukrainian economy and agreed with shareholders to increase capital by EUR 4 billion, which will allow it to continue lending at current levels during the war and further increase volumes during the full-scale recovery phase.
Kormotech is a global family-owned company with Ukrainian roots that has been producing cat and dog food under the Optimeal, Club 4 Paws, Woof! and Meow! brands since 2003. The company has production facilities in Ukraine and the EU, with a product range of over 650 items. Its focus on exports and geographic diversification helps it withstand the impact of Russia’s war against Ukraine.
The new project will also help Kormotech strengthen its human resources and skills development efforts in light of the current challenging situation on the Ukrainian labor market, including creating new employment and training opportunities for women, veterans, and other groups that require more attention. It will also enable Kormotech to improve energy efficiency.
In 2023, Kormotech’s turnover increased by 22.5% to $152 million from $124 million in 2022. The ratio of sales abroad and in Ukraine in tons is now 31% to 69%, respectively (in 2022 it was 28% to 72% in Ukraine).
Kormotech brands grew most dynamically in the markets of Romania (+35%), Poland (+11%) and Moldova (+11%).
Kormotech is a leader in Ukraine, one of the world’s top 50 pet food producers and one of the top 21 most dynamic pet food brands. The ultimate beneficiaries of Kormotech are Olena and Rostyslav Vovk.
