A large-scale post-war program to rebuild Ukraine’s infrastructure should be based on FIDIC contracts, says Mykola Tymofeev, CEO of Ukraine’s largest infrastructure construction company, Avtomagistral-Pivden.
“International donors prefer FIDIC contracts because they provide for a clear division of responsibilities between the client and the contractor, prevention of corruption risks, transparent dispute resolution practices, and professional arbitration. The investor is confident that the financed contract will be implemented on time – there will be no legal conflicts or lengthy litigation,” he said during the FIDIC Users Conference in London.
FIDIC is the largest international organization in the field of construction consulting, which unites more than a million practicing consulting engineers in 104 countries. The main goal of FIDIC is to regulate the relationship between the client and the construction contractor through standard forms of contracts. Infrastructure construction contracts financed by the World Bank, the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) are executed under FIDIC model contracts.
The main topics of the conference in London included new practices for appointing dispute resolution boards, the use of AI technologies for tender preparation and project management, and reducing carbon emissions in construction projects. The event also included the awarding of the winners of the FIDIC Contract Users’ Awards 2024.
According to Mykola Tymofeev, Avtomagistral-Pivden is the only contractor from Ukraine invited to the conference. More than a decade ago, Avtomagistral-Pivden representatives became the first Ukrainian certified FIDIC consulting engineers. Currently, there are more than 20 such engineers in the company. FIDIC membership requires compliance with the FIDIC Charter on the norms of professional ethics and behavior of consulting engineers.
“The fact that we were invited to the conference is further evidence of the international recognition of our company, confirmation of the high professional level of our consulting engineers. “Avtomagistral-Pivden works under FIDIC contracts both in other countries and on international projects in Ukraine. But we are ready to implement all Ukrainian infrastructure projects under the same FIDIC rules to stop pressure and interference in our work from law enforcement agencies that do not exist in any other European country once and for all,” Tymofeev summarized.
He also noted that almost all of the experts with whom he spoke at the conference hope that next year our country will be able to launch a large-scale recovery program with international support. “Which, of course, should be based on FIDIC contracts,” Timofeev said.
Avtomagistral-Pivden LLC has been on the market since 2004. It designs and builds highways, bridges, interchanges, airfield complexes, and hydraulic structures. The company’s owner is listed in Opendatabot as Oleksandr Boyko. According to the financial results for 2023, the company’s net profit amounted to UAH 624.9 million, and revenue was UAH 8.215 billion.
After the recent increase in price in Ukraine again decreased selling prices for onions, according to analysts of the project EastFruit. The main reason for the downward price trend was a decrease in demand in this segment, due to the fact that producers are increasingly offering for sale vegetables of medium and low quality.
Thus, today sales of onions are formed within the range of UAH 10-16/kg ($0.24-0.38/kg), which is on average 16% cheaper than at the end of the last working week. It should be noted that closer to the weekend wholesale batches of onions in Ukraine are already sold at prices inferior to the previous season.
Sellers are forced to reduce prices due to a noticeable decrease in demand in this segment. At the same time, the quality of onions in storage is rapidly deteriorating, so the owners are reducing prices in order to stimulate sales and sell out the available volumes of such products as soon as possible.
It is worth noting that most farmers today prefer to refrain from selling onions, citing extremely low prices. Recall that in early December 2023, Ukrainian producers shipped onions on average 20% more expensive than today.
You can get more detailed information on the development of the onion market and other horticultural products in Ukraine by subscribing to the operational analytical weekly – EastFruit Ukraine Weekly Pro. Detailed information about the product can be found here.
Number of unemployed in Ukraine and job opportunities, 2023-2024
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IC “Ukrainian Fire Insurance Company” (UPIC, Kiev) from December 17, 2024 to May 27, 2025 will pay dividends in the amount of UAH 4.8 million, the company reported in the information disclosure system of the National Commission on Securities and Stock Market (NCSSM).
The corresponding terms were approved by the company’s supervisory board on December 3 after the general meeting of shareholders on November 27 decided to pay dividends. The amount of dividends per common registered share is UAH 0.30.
PJSC “UPSC” was registered in 1993. It specializes, in particular, in insurance of motor transport, financial risks, tourists, property, cargo and luggage.
The insurer is a member of the Motor (Transport) Insurance Bureau of Ukraine and has 36 licenses for insurance activities: 20 for voluntary insurance, 16 for compulsory insurance.
According to the data of NCSSM, as of Q2 2024 the owner of 99,999% of insurer shares is Oleksandr Mikhailov.
The authorized capital of the insurer amounts to UAH 100 mln.
IC Ukrainian Fire Insurance Company, PJSC “UPIC” dividend payment
PJSC “Ukrhydroenergo” on December 4 announced its intention to conclude with IC “European Insurance Alliance” the contract of compulsory insurance of motor liability of owners of land vehicles.
According to the information on the web portal Prozorro, the price offer of IC “European Insurance Alliance” amounted to UAH 773.3 million at the expected cost of the purchase of services of UAH 790.27 thousand. IC Krajina participated in the tender with the offer of UAH 774,4 th.
EUROPEAN INSURANCE ALLIANCE, MOTOR INSURANCE, UKRHYDROENERGO
Population forecast for Ukraine in 2030-2100
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