Business news from Ukraine

Business news from Ukraine

CHINESE SHENZHEN MTC TO INVEST $ 13 MLN IN TV MANUFACTURER KIVI TV

The international TV manufacturer KIVI, headquartered in Ukraine, has signed an agreement on strategic partnership and deep integration with one of the largest electronics manufacturers, Shenzhen MTC (China, Shenzhen).

“In 2021, within the framework of the signed agreement, the Chinese manufacturing giant will invest more than $ 13 million only in the development of a new line of smart TVs KIVI 2021. Investments will be directed to the development of new hardware and software solutions for a significant increase in productivity and the implementation of a number of innovative technologies, new design solutions, as well as improved picture and sound quality,” the Ukrainian company said.

The document also provides for the implementation of a number of innovative projects aimed at developing products under the KIVI brand over the next five years.

KIVI is an international company, developer and manufacturer of smart TVs and TV services. Products under the eponymous brand are sold in the European and Asian markets, and the KIVI TV service is available on all TV sets with the Android system in Ukraine.

The head office of KIVI is located in Kyiv, the development of TV sets and TV services is carried out by an international team of KIVI specialists, and production is carried out at high-tech factories in Europe and Asia.

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UKRAINIAN FM AND U.S. SECRETARY OF STATE REAFFIRM IMPORTANCE OF UKRAINE-U.S. STRATEGIC PARTNERSHIP

Ukrainian Foreign Minister Dmytro Kuleba and U.S. Secretary of State Antony Blinken reaffirmed the importance of the strategic partnership between Ukraine and the United States.
“In our first call today Antony Blinken and I affirmed the importance of the Ukraine-U.S. strategic partnership. We agreed to raise the level of amtition and begin a new day in our relations. Grateful for the unfaltering U.S. support of Ukraine’s sovereignty and territorial integrity,” Kuleba wrote on his Twitter on Monday night.
“It was our first conversation. The Secretary of State indicated at the very beginning that he wanted to talk with Ukraine one of the first […] We agreed on the main thing – to fill our strategic partnership with new ambitions,” Kuleba said on the Freedom of Speech television program on ICTV.
The minister said the conversation with U.S. Secretary of State Blinken was planned last week and did not take place for technical reasons.

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INTERFAX-UKRAINE NEWS AGENCY TO HOST PRESS CONFERENCE ‘BILL ON DUAL CITIZENSHIP: MYTHS AND REALITY’

On Tuesday, February 2, at 17.00, the press center of the Interfax-Ukraine news agency will host press conference entitled “Bill on Dual Citizenship: Myths and Reality.”
Participants include Parliamentarians of Ukraine Oleh Dunda, Oleksandr Aliksiychuk and Dmytro Mykysha (8/5a Reitarska Street).
The press conference will be available on the YouTube channel of Interfax-Ukraine.
Media accreditation requires registration on the spot.

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UKRAINIAN FORTE LIFE INSURER CHANGES OWNER

Astrum Ukraine LLC, which owns 99% of the shares of Forte Life insurance company (Kyiv), has reduced its stake to zero, according to the official information of the insurer.
It is noted that Oksana Kuleshina became the owner of 99% of the shares of the insurance company.
According to the unified state register of legal entities and individual entrepreneurs, Kuleshina is the ultimate beneficiary of Astrum Ukraine LLC.
Forte Life (formerly Insurance Union Life), registered in 2005, specializes in providing services in the field of life insurance.

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LARGEST UKRAINIAN MINING AND METALLURGICAL HOLDING METINVEST INCREASES PRODUCTION OF STEEL BY 9% IN 2020

Metinvest, the largest Ukrainian mining and metallurgical holding, in 2020 increased steel production by 9% compared to 2019, to 8.268 million tonnes, cast iron by 7%, to 8.475 million tonnes, and total coke production by 3%, to 4.808 million tonnes.
According to a press release from the parent company Metinvest B.V. on the results of operating activities for 2020, the group in the fourth quarter of 2020 reduced the production of cast iron by 9% compared to the previous quarter, to 2.105 million tonnes due to a decrease in production at both Mariupol plants.
Thus, the decline at Illich Iron and Steel Works amounted to 137,000 tonnes, as blast furnace No. 3 was shut down for a major overhaul in November 2020 and at Azovstal to 63,000 tonnes amid less intensive blast furnace operations due to a planned overhaul of the air separation unit’s oxygen block and changes in the burden composition.
Steel production in the fourth quarter of 2020 decreased by 3% compared to the previous quarter, to 2.118 million tonnes, mainly due to an overhaul of basic oxygen furnace No. 2 at Azovstal in September-October 2020. At the same time, the volume of steel production at Illich Iron and Steel Works remained practically unchanged compared to the previous quarter as hot metal was reallocated to steelmaking.
In 2020, cast iron production increased by 7% compared to last year amid greater production at both Mariupol plants. At Azovstal, production climbed by 328,000 tonnes, as the highly efficient blast furnace No. 3 was launched following its major overhaul and upgrade in June 2019 and a planned major overhaul of blast furnace No. 2 in the fourth quarter of 2019.
At Illich Iron and Steel Works, output increased by 219,000 tonnes, mainly due to a low-base effect caused by the shutdown of blast furnaces No. 3 and 5 for planned overhauls in 2019.
Steel production in 2020 increased by 9% year-over-year mainly due to an increase in production at Illich Iron and Steel Works by 512,000 tonnes amid the reallocation of hot metal to steelmaking. The increase in production at Azovstal by 178,000 tonnes was caused by an increase in hot iron production.
In the fourth quarter of 2020, the production of semi-finished products decreased by 17% compared to the previous quarter, to 816,000 tonnes. At the same time, the decrease in cast iron production amounted to 107,000 tonnes as hot metal was redirected to make steel and downstream products at Illich Iron and Steel Works, and marketable slab to 57,000 tonnes due to the redistribution of slab in favor of flat-rolled products. In 2020, the production of merchant semi-finished products increased by 5% compared to 2019, to 3.313 million tonnes as Mariupol plants boosted merchant slab output by 329,000 tonnes in response to greater demand. Consequently, cast iron production declined by 14% y-o-y to 1.088 million tonnes.
In 2020, production of finished goods increased by 4% compared to the previous year, to 5.833 million tonnes. Namely: the production of flat products increased by 132,000 tonnes, to 4.809 million tonnes; the production of long products increased by 80,000 tonnes, to 794,000 tonnes; the production of rail products increased by 30,000 tonnes, to 79,000 tonnes amid an increase in orders from the Ukrainian railways; and the production of tubular products decreased by 4,000 tonnes, to 151,000 tonnes.
In the fourth quarter of 2020, coke production increased to 1.224 million tonnes.

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STATE AGENCY UKRAVTODOR TO BUILD NEW ROAD IN ZAKARPATTIA REGION UNDER HUNGARIAN LOAN

The State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to implement three priority projects in Zakarpattia region under a Hungarian loan, the allocation of which was confirmed by Minister of Foreign Economy and Foreign Affairs of Hungary Peter Szijjarto during his working visit to Ukraine on Wednesday.
As the press service of Ukravtodor told Interfax-Ukraine, among these facilities, in particular, is the construction of a new 10-kilometer road of the first technical category from the Hungarian border to the M-24 highway, and then to the highway M-06 Kyiv-Chop.
“This will be a continuation of the Hungarian M3 motorway from Budapest to Vásárosnamény, which, in turn, is part of the Fifth Pan-European Transport Corridor that passes through the territory of Ukraine,” the agency said.
The expected traffic intensity on the site is 12,000 vehicles. The construction of three interchanges is envisaged. Another checkpoint on the Hungarian-Ukrainian border is envisaged as well.
According to Ukravtodor, the designed-estimated documentation for this project is being examined. The estimated cost of construction is UAH 3.8 billion.
Another priority object is the construction of a bypass road around the town of Berehove and further to the Luzhanka checkpoint on the border with Hungary. The estimated cost of construction is UAH 1.5 billion. The designed-estimated documentation is at the final stage.
In addition, the modernization of the bridge across the river Tysa at the checkpoint Tysa-Záhony is a priority.
According to Ukravtodor, the start of the implementation of these projects is scheduled for 2021.
In general, in 2020, some 282 km of roads were repaired under the Big Construction program in Zakarpattia region.
As reported, Minister of Foreign Economy and Foreign Affairs of Hungary Peter Szijjarto confirmed the allocation of EU50 million to Ukraine for the development of road infrastructure in Zakarpattia region.

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