Business news from Ukraine

Business news from Ukraine

Odesa Port Side Plant increases urea production

The Odesa Port Side Plant produced 821,200 tonnes of urea in 2020, which is 2.5 times more than in 2019 and is a record high over the past five years.

Its production facilities also produced 96,500 tonnes of commercial ammonia, which is 3.2 times more than a year earlier, a press release of the enterprise published on Thursday says.

Almost all products are made from raw materials supplied by the customer, but there is no more accurate data on this in the message.

The plant also clarified that over 90% of its products are exported.

As reported, last year the state-owned Odesa Port Side Plant increased the production of urea from tolling raw materials by 82.1% – to 324,600 tonnes, but reduced the production of ammonia 4.7 times – to 29,900 tonnes.

Ukravtodor opens passage on new bridge across Chortomlyk river

The State Agency for Highways of Ukraine (Ukravtodor) has opened a passage on a new bridge over the Chortomlyk river in the village of Oleksiyivka, Dnipropetrovsk region, Ukravtodor reported on its Telegram channel on Wednesday.

“I think everyone remembers the story of May, when the old ferry collapsed during the passage of an overloaded truck. It hasn’t been repaired for 65 years. Then we immediately launched the process of reconstruction of the bridge. The whole team was faced with the task of opening the traffic here by the end of the year. All critical work has been completed now. Today, the first test vehicle set off across the bridge in Oleksiyivka. From tomorrow, vehicular traffic will be carried out in a usual mode,” the press service quoted head of the agency Oleksandr Kubrakov as saying.

According to Ukravtodor, in 2021, work on the installation of a drainage system from the superstructure, the arrangement of the upper layers of the pavement, road markings and the dismantling of the reinforced concrete channel supports of the old bridge will be completed on the bridge.

The bridge over Chortomlyk is an integral part of the road N-23 Kropyvnytskyi – Kryvyi Rih – Zaporizhia (km 206 + 925).

,

Dragon signs agreement for purchase of Unex bank

Vadim Novinsky’s Smart Holding and Tomas Fiala’s Dragon Capital investment group have signed a sale and purchase agreement for Unex Bank, Smart Holding said on Thursday.

“The parties plan to close the deal during the first quarter of 2021. At the moment, the documents are being approved by the NBU. The Antimonopoly Committee of Ukraine has already approved the deal,” the release says.

The parties to the agreement are: – Withine Investments LTD (Cyprus) from Smart Holding, Dragon Capital Investments Limited (Cyprus) from Dragon Capital, participating in the transaction together with Ivan Svitek.

The amount of the deal was not disclosed.

According to the NBU, as of October 1, 2020, in terms of total assets, Unex Bank ranked 64th (UAH 796.83 million) among 74 banks operating in the country.

The bank completed nine months of 2020 with a net loss of UAH 22.97 million, which is 3.8 times higher than the loss for the same period last year, including in the third quarter the net loss amounted to UAH 14.67 million against UAH 1.41 million in third quarter of last year.

Bank’s net interest income for nine months of this year decreased by 14.8% – to UAH 68.07 million, and the net commission income – by 21.2%, to UAH 19.3 million.

The release states that Withine Investments LTD (Cyprus) owns 100% of the shares of Unex Bank, and 100% of the shares of Withine Investments, in turn, belong to Smart Investments (CY) Ltd, owned by MP Novinsky.

, ,

Ukraine to receive Sinovac Biotech vaccine within 30 days after registration

Ukraine will receive the vaccine produced by the Sinovac Biotech Chinese company within 30 days after registration, Health Minister of Ukraine Maksym Stepanov said during a press briefing in Kyiv on Thursday.

“Due to the supply of the vaccine from Sinovac Biotech, we will receive 1.913 million doses of vaccine against coronavirus disease. During the first delivery, some 700,000 doses will arrive in Ukraine, we will receive them within 30 days after the vaccine is registered either in the manufacturing country or in other countries (the United States, UK, EU, Brazil, etc.),” he said.

“The company is to release the results of clinical trials in Brazil on January 7. It is stipulated that the vaccine must have an efficiency of at least 70%. Negotiations with the manufacturer have lasted since September 2020. The agreement was signed by the Lekhim Ukrainian pharmaceutical company,” the minister said.

According to Stepanov, the third phase of clinical trials was done in Brazil (13,060 patients), Indonesia (1,600 patients) and Turkey (1,325 patients). The efficiency in Indonesia was 97%, in Turkey it was 91%. The FDA recommends that COVID-19 vaccines should be more than 50% effective.

The minister said that all vaccines purchased for government funds will be free for all citizens of Ukraine.

In addition, the head of the Health Ministry said that the department is at the final stage of signing contracts with other vaccine manufacturing companies, and also intends to increase the number of vaccines that will be supplied to Ukraine as part of the COVAX initiative.

, ,

AstraZeneca to determine options for supply of vaccines against COVID-19 to Ukraine in near future

Minister of Health of Ukraine Maksym Stepanov has held talks with Executive Director for International and Government Affairs of AstraZeneca Alec van Gelder on the timing and logistics of deliveries of the COVID-19 vaccine to Ukraine.

“For several months, the Ministry of Health of Ukraine has been establishing active and effective communication with the head office of AstraZeneca. Today we have already discussed the logistics and delivery terms of vaccines against COVID-19 from AstraZeneca in Ukraine. Our state is completely ready to receive vaccines. A plan for vaccination of the population has been fully developed,” Stepanov said, the press service of the Ministry of Health of Ukraine reported on Facebook.

Alec van Gelder, in turn, noted readiness for active cooperation with Ukraine.

“We thank the Ministry of Health of Ukraine for consistency and openness. Now we will process options for the supply of vaccines in Ukraine in the near future,” he summed up.

It is noted that on December 30, the Oxford-AstraZeneca vaccine was approved for use in the UK, vaccination will begin on Monday.

As reported, the Ministry of Health of Ukraine signed a contract for the supply of vaccines against COVID-19 produced by the Chinese company Sinovac Biotech to Ukraine.

, ,

Capital Times owners decide to split their business

The owners of the Capital Times investment company with offices in Ukraine and Belarus, Sergey Goncharevich and Eric Nayman, divided their business into B2B and B2C, keeping the Capital Times brand for Goncharevich’s B2B, Nayman said.

“My longtime partner Sergey Goncharevich and I decided to split Capital Times into two parts. (…) The combination of two completely different business models under one Capital Times brand no longer made economic sense. The Capital Times brand remained with my previous partner Sergey Goncharevich,” he wrote in his YouTube address.

Nayman indicated that he would be engaged in wealth management and B2C in general under the Hugs brand.

According to him, Goncharevich, in turn, will continue to work in the direction of B2B and in the field of corporate finance, he will help companies in finding financial resources, and owners – to buy or sell a business.

Capital Times was founded in 2006 and specializes in investment consulting and wealth management. The main offices of the company are located in Kyiv and Minsk. The managing partners of the company are Erik Nayman, a member of the Council for Economic Development under the government of Ukraine, and Sergey Goncharevich.

HUG’s company specializes in investment consulting. It has over 300 active accounts with Interactive Brockers, over UAH 400 million under management and conducts over 150 transactions daily.

, ,