Interpipe, a Ukrainian industrial company, and Mubadala, the state investment fund of the government of Abu Dhabi, signed a memorandum of understanding on February 14, 2021.
Interpipe reported on Facebook the memorandum was signed during the visit of Ukrainian President Volodymyr Zelensky to the United Arab Emirates. On behalf of the company, the document was signed by First Deputy CEO Denys Morozov.
At the same time, it is noted that Interpipe has long been present in the Middle East markets.
“Every second building in Abu Dhabi was built with our pipes. Moreover, during the global crisis last year, this particular region showed growth, and the demand for steel pipes was maintained at a high level. This allowed us to start cooperation and ship the first pipe products to the address of one of the flagships of the world oil and gas business – National Oil Company of Abu Dhabi ADNOC,” the group said.
Interpipe is a Ukrainian industrial company, a manufacturer of seamless pipes and railway wheels. Products are supplied to more than 80 countries around the world through a network of sales offices located in the key markets of the CIS, the Middle East, North America and Europe.
Oxford/AstraZeneca vaccine against coronavirus (COVID-19) has been submitted for registration in Ukraine under the obligation for emergency medical use.
According to the Center for Public Health website, an application for registration was submitted to the State Expert Center of the Health Ministry on Monday, February 15.
On the same day, WHO approved the AstraZeneca emergency vaccine and gave the green light for use of this vaccine worldwide through the COVAX initiative. The Oxford/AstraZeneca vaccine has previously been approved for emergency use in the UK, European Union and India.
The vaccine will be purchased for public funds directly from manufacturers. It is expected that at least 500,000 doses of the AstraZeneca vaccine will be supplied to Ukraine in February 2021.
As reported, Ukraine received information from COVAX on the supply of vaccines from the manufacturer Oxford/AstraZeneca in the amount of 2.2 to 3.7 million doses in the first or second quarter of 2021.
Mubadala, the investment fund of the United Arab Emirates, has signed memorandums of understanding with 18 Ukrainian companies, in particular with EastOne represented by Rodion Kukhaev, Interpipe represented by Denys Morozov, UFuture represented by Mykola Tymoschuk, Unit.City represented by Kostiantyn Yevtushenko, Dragon Capital represented by Andriy Nosok, Fortior represented by Mykola Nesterenko and UMG represented by Andriy Horokhov.
“Mubadala has also signed a number of other memorandums of understanding with private companies that aim to explore investment opportunities in the private sector in Ukraine,” the investment fund said in a release.
According to its data, earlier Mubadala fund also signed memorandums of understanding with other Ukrainian companies, including TAS Group, BGV, Horizon, OdesaGaz, Epicenter, Oschadbank, Mais and Metinvest, which together with DTEK and UMG are part of the assets of SCM Group.
Adviser to the head of the President’s Office Tymofiy Mylovanov said that Mubadala expects to close the first investment by the end of 2021.
“The average ticket (investment amount) of Mubadala is $ 50-100 million,” he wrote on Facebook, pointing out that the estimated investment amount could thus reach $ 1.8 billion.
“The creation of a sovereign fund of Ukraine for joint investments with this and other funds of the UAE and other countries was discussed,” he added.
According to him, the Ministry of Agrarian Policy also signed a memorandum on the creation of a trading company and an agricultural hub.
“Meetings and consultations on specific agreements with other state funds of the UAE are underway,” Mylovanov said.
The deficit of Ukraine’s foreign trade in goods in 2020 decreased by 54.6% compared to 2019 and amounted to $4.878 billion (in 2019 some $10.746 billion), the State Statistics Service has reported.
In 2020, export of goods compared to 2019 decreased by 1.7% (by $847 million), amounting to $49.213 billion, import by 11% (by $6.692 billion), to $54.091 billion.
The coverage of imports by exports was 0.91 (in 2019 some 0.82).
The seasonally adjusted exports of goods in December 2020 compared to November increased by 3.3%, imports – by 3.7%. The seasonally adjusted foreign trade balance in December 2020 was negative and amounted to $499 million. In November 2020, it was also negative at $465 million.
The State Statistics Service specified that foreign trade operations were carried out with partners from 234 countries of the world.
Ukraine and the United Arab Emirates have signed memorandums and contracts worth $3 billion or more, the presidential press service said. “As part of the official visit of Ukrainian President Volodymyr Zelensky to the United Arab Emirates, the Ukrainian delegation signed a number of memorandums and contracts totaling $3 billion or more,” the press service said in the statement.
In particular, memorandums of understanding were signed between the State Property Fund of Ukraine and the Mubadala investment company. They are aimed at deepening cooperation in the development of promising investment projects and the participation of the Emirate side in the program of privatization of state-owned property in Ukraine.
“At all international meetings, I urge to invest in Ukraine. Our state has enormous potential: geopolitical position, natural resources, people of knowledge. Right now is the time to understand this potential and create a strong economy,” Zelensky said.
He said that attracting investment is the key to Ukraine’s economic growth. “The signing of a memorandum with the Mubadala investment company of the government of Abu Dhabi on intentions to invest in Ukraine is a very important step in opening the way for major investments in Ukraine from Western Asia,” Zelensky said.
In addition, the Ministry of Digital Transformation of Ukraine signed a memorandum with INTELMAX Management Consulting, which provides for cooperation on the creation of a platform for the exchange of intellectual property based on the Fantom blockchain, which will provide increased security and transparency. It is also planned to introduce blockchain technologies into government processes and services.
The sides also signed documents in the defense sector, discussing the possibility of constructing joint factories outside Ukraine.
As the President’s Office said, the possibility of opening a Ukrainian sovereign fund for joint investments is also being considered.
“Along with this, some 18 Ukrainian private companies, including Interpipe, Dragon Capital, DTEK, Unit City, EastOne, UMG, Ufuture, Fortior, signed memorandums with the Mubadala state investment fund,” the President’s Office said.
Ukrainian industrial company Interpipe made a first supply of line pipes to Qatar Petroleum, one of the biggest oil producers in the Middle East.
According to a company press release, steel pipes are going to be applied for the QP’s onshore Dukhan Field oil and gas basin project.
According to Qatar Petroleum specification, pipes must comply with the highest level of sour service requirements and operate in the H2S environment.
It took us more than three years to become a prequalified supplier for Qatar Petroleum. On the final stage, Bureau Veritas, an international inspection company nominated by QP, conducted a detailed audit of Interpipe facilities to confirm that all specifications and technical requirements were met.
Andrey Burtsev, commercial director for Ukraine, Europe, Africa, Asia and the Middle East regions, said that the contract with Qatar Petroleum is an important milestone in Interpipe development in the Middle East.
“We have passed through a difficult and long path of negotiations, audits and prequalifications before first supply was made. QP is very selective and cautious when choosing vendors and this contract confirms Interpipe’s reputation as a reliable and first-class pipes supplier for the global Oil & Gas companies,” he said.
