Business news from Ukraine

Business news from Ukraine

UKRAINE INVITES PORTUGAL TO JOINT WORK ON CREATION OF AERIAL FIREFIGHTER – TSEGOLKO

Ukraine has invited Portugal to joint work on the creation of a firefighting aircraft, according to Svyatoslav Tsegolko, press secretary for Ukrainian President Petro Poroshenko.
“Ukraine has offered Portugal to develop a firefighting plane on Antonov’s basis,” he wrote on his Twitter page on Monday.
Tsegolko also said that Poroshenko had thanked Portugal for recognizing the Holodomor as genocide of the Ukrainian people this year.
He also noted that Portuguese President Marcelo Rebelo de Sousa had confirmed that his country “supports Ukraine in NATO and the OSCE.”
Poroshenko is on an official visit to Portugal on December 17-18.
The press service of the Ukrainian president said later on Monday that it is proposed to design and produce firefighting aircraft on the basis of Ukraine’s Antonov State Enterprise.
“We offered to elaborate a joint project of water-bombing aircrafts construction on the basis of Antonov. We are confident that this will increase security in Portugal and will be a very successful and effective project of our cooperation,” the press service said, citing Poroshenko.
According to Petro Poroshenko, bilateral economic projects should play significant importance for the development of cooperation between Portugal and Ukraine. He also said that “we are waiting for Portuguese investors who will seize opportunities for privatization.”
He reminded that Ukraine had helped Portugal during wildfires.

ARCELORMITTAL KRYVYI RIH TO ANNUALLY INVEST $250 MLN IN PRODUCTION UPGRADING UNTIL 2025 –CEO

PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) intends to annually invest $250 million in production renewal until 2025, company CEO Paramjit Kahlon has said at a conference with suppliers in Kyiv.
“Investments in Ukraine are planned at the level of $250 million every year until 2025,” the top manager said.
In addition, the metallurgical combine in Kazakhstan plans in 2018 to send $350 million of investments in mines and other projects.
Kahlon noted that 18 new BelAZ trucks were purchased to increase open ore extraction at ArcelorMittal Kryvyi Rih. Attention is also paid to upgrading the fleet of excavators and other mining equipment, including crushers, in order to increase the capacity of ore-dressing plants, mills and increase production of iron ore concentrate. The option of building a separate line is being considered, which will make it possible to produce not 10 million tonnes of concentrate as at the present time, but 15-17 million tonnes, enriching ore extracted by an open method.
There is a separate program to upgrade ore mining in mines.

CORUM COMPLETES LARGE PROJECT FOR BUILDING MINE SHAFTS IN VIETNAM

Corum Shakhtspetsbud, part of Corum Group, has completed the reinforcement of the main shaft of the Nui Beo mine of Vinacomin Coal Corporation (Vietnam), finishing the largest Corum project for building vertical mine shafts, implemented from scratch, the press service of the company has said.
“The complexity of the project and its successful implementation allow Corum Shakhtspetsbud to stand side by side with the companies that have many years of experience in the mine industry,” the company believes.
The project envisaged the implementation of work on the mining and reinforcement of two vertical shafts – the main and auxiliary shafts – six meters in diameter and 417 and 389 meters in depth respectively.
“Based on specific operating conditions, the service life of the mine shaft and the construction budget, we have chosen the most reliable and technological design with the development of our own installation technology,” Director of Corum Shakhtspetsbud Oleksiy Zhytnyk said.
Corum Group unites the engineering assets of System Capital Management (SCM) financial and industrial group belonging to Rinat Akhmetov. The company is one of the largest manufacturers of equipment and suppliers of integrated solutions in the field of mining.

INTERPIPE IN MIDDLE EAST DELIVERS PRODUCTS MAINLY TO UAE, TURKEY, EGYPT AND SAUDI ARABIA

Interpipe international vertically integrated pipe and wheel company has been present in the markets of the Middle East for more than 10 years, mainly in the United Arab Emirates, Turkey, Egypt, and Saudi Arabia.
“The company has developed strong partner relations in the region with the customers both in the oil and gas sector and in the construction industry. During this time 58.5% of deliveries were made to oil and gas projects, most of which we shipped to the UAE (25%), Turkey (18%) and Egypt (13%). The share of supplies for the construction segment was 41%. The largest volume was shipped to the markets of the UAE, Turkey and Saudi Arabia with 30%, 22% and 19% respectively,” the commercial director for pipe sales to the markets of the Middle East, Africa and Asia at Interpipe, Andriy Burtsev, said.
At the same time, it is noted that over the ten-year period of Interpipe’s presence in the Middle East, the company supplied more than one million tonnes of pipe products for oil and gas and construction industries.
Director General of Offshore Engineering and Marketing Ltd Nazih Al-Sayed, in turn, noted Interpipe has been a reliable partner for more than 15 years.

EVO PREDICTS GROWTH OF E-COMMERCE MARKET BY 20% IN 2018

The EVO Group predicts that the upward trend on the e-commerce market for goods and services would retain in 2018 and the market would grow by 30%, to UAH 65 billion.
“The trends in the development of the consumer e-commerce market are: service, security, the secondary market of things, as well as self-employment and logistics. In the business segment, these drivers will also include: a single platform of business opportunities and digital business processes,” EVO Group’s Development Director Denys Horovy said at a press conference on December 15.
He said that EVO forecasts for the current year were justified with great accuracy: by the end of the year the company estimated the volume of the e-commerce market at UAH 50 billion, which is in line with the forecasts.
“In 2017, Ukrainians purchased 68% more goods on marketplaces of the EVO group (Prom.ua, Bigl.ua, Crafta.ua, Kabanchik.ua) compared to last year, to the amount of UAH 14.2 billion. The receipt grew insignificantly – by 4% and now stands at UAH 962,” Horovy said.
He said that the number of orders on the group’s marketplaces for the year increased by 61%, to 14.8 million.
In 2017, Ukrainians mainly bought shoes, clothes, accessories, electronics and equipment, goods for home and garden, cosmetics and perfumes, as well as goods in the gifts category on the marketplaces.
EVO’s core business is marketplaces. The group’s projects are implemented in Ukraine, Belarus and Kazakhstan.