Business news from Ukraine

Business news from Ukraine

NIBULON PREPARING TWO SHIPS FOR LAUNCH IN SEPT

KYIV. Sept 8 (Interfax-Ukraine) – Nibulon is finishing building the last (eighth) non-self-propelled B2000 vessel and self-propelled dressing SDS-15 vessel.
The company said in a press release that now the company is actively preparing the B2000 vessel for tests. The ship will be launched on September 8 and finally placed in operation by the end of this month.
Nibulon said that the company also started building non-self-propelled B5000 vessels and the non-self-propelled grain loading P-38 vessel.
In 2017-2022, Nibulon seeks to build 24 non-self-propelled B5000 vessels at its shipyard.
“Thanks to the modernization of the shipyard and cooperation with the European Investment Bank Nibulon will have a chance to build up to 15 freight vessels a year and expand its fleet to 100 units in coming years,” the company said.
According to the press release, in 2017, Nibulon shipping company transported around 820,000 tonnes of agricultural products up and down the Dnipro and Southern Bug rivers. Over 34,000 trucks would have required transporting this amount of freight.

U.S. GREENBRIER WANTS TO ORDER ABOUT 10,000 WAGONS IN UKRAINE WITH MAXIMUM LOCALIZATION OF PRODUCTION

KYIV. Sep 8 (Interfax-Ukraine) – U.S.-based Greenbrier is interested in cooperation with the state-run Ukrainian railway operator, Ukrzaliznytsia, and is considering the possibility of building about 10,000 wagons in Ukraine with maximum localization of production.
This was discussed at a meeting of Ukraine’s Infrastructure Ministry and Ukrzaliznytsia with representatives of Greenbrier in Kyiv on September 5.
Infrastructure Minister Volodymyr Omelyan noted that the arrival of strategic investors in Ukraine means a new quality of transport infrastructure and economic development, while his deputy Nadiya Kaznacheeva added that Greenbrier’s entry into the Ukrainian market can be an important step for the development of rail transportation, and is also a powerful signal for other foreign investors.
In continuation of the negotiations, the parties agreed to move to more practical cooperation, namely, the development of a potential model of cooperation with the participation of Greenbrier, Ukrzaliznytsia and international financial institutions.
It was reported earlier that PJSC Ukrzaliznytsia intends to create a leasing company in conjunction with Amsted Rail and The Greenbrier Companies.
Greenbrier, in particular, develops, builds and sells freight cars in North America and Europe.

BANK CREDIT DNEPR PARTNERS WITH USAID PROJECT FOR SUPPORT OF AGRICULTURE DEVELOPMENT

KYIV. Sept 8 (Interfax-Ukraine) – Kyiv-based Bank Credit Dnepr has become partner of the USAID project Agriculture and Rural Development Support (ARDS).
The parties signed a memorandum of cooperation on Thursday, the bank said in a press release.
Under memorandum, the parties signed plans for interaction with the aim of developing agrarian financing, raising awareness of small- and medium-sized agricultural producers in the segment of vegetables, berries, fruits, meat and dairy products about banking products.
The memorandum also stipulates that Bank Credit Dnepr will act as an advisor to the grant committee of the USAID project, which will consider applications from small- and medium-sized agricultural producers for project grants for the purchase of equipment for the production, processing and storage of vegetables, berries and fruits, as well as meat and dairy products.
As the USAID ARDS office told Interfax-Ukraine, the memorandum also provides for a partnership between the bank and the USAID project to improve the access of small- and medium-sized agricultural producers to lending. In particular, experts from Bank Credit Dnepr together with the USAID ARDS project will conduct consultations and training for small- and medium-sized agricultural producers on issues related to the preparation of a package of documents for attracting bank financing.
The USAID ARDS project was launched in September 2016 and will last until the end of July 2020.
The project will support broad-based, resilient economic growth through a more inclusive, competitive, and better governed agriculture sector that provides attractive livelihoods to rural Ukrainians. It will create a better enabling environment for agricultural small and medium enterprises by strengthening the capacity of the Ministry of Agriculture to implement sector reforms, by developing a transparent legal framework for agricultural land markets, and by implementing reforms that attract irrigation system modernization investments. The Agriculture and Rural Development Support Project will improve agriculture sector competitiveness by supporting agricultural SMEs to introduce international quality and safety standards. ARDS will support rural development by expanding employment and income opportunities and supporting target rural communities to develop viable economic strategies that stimulate economic growth.

CHINA’S GOLDSKY CONCERN CERTIFIES PRODUCTS OF ZAPORIZHIA TITANIUM AND MAGNESIUM COMBINE

KYIV. Sept 7 (Interfax-Ukraine) – Zaporizhia Titanium and Magnesium Combine LLC has certified its products with one of the largest Chines consumer of titanium sponge – GoldSky, the enterprise said in a press release on Wednesday.
The combine is permitted to supply titanium sponge after a complex audit conducted by GoldSky.
GoldSky is a titanium division of China’s XiangTou Holding Group. The company has been operating on the market for over 10 years. It is among top five largest consumers of titanium sponge in China with assets of almost $700 million.
According to the press release, the special certification of Zaporizhia Titanium and Magnesium Combine consisted of several stages. At the first stage, the plant’s products passed a qualitative audit in the laboratories of the GoldSky concern in China. Then, authorized specialists of GoldSky personally visited the combine and conducted a comprehensive audit of the work of all departments of the plant, including the company’s compliance with international environmental and safety requirements.
Zaporizhia Titanium and Magnesium Combine Director Volodymyr Syvak said that GoldSky is not the first serious global player with which the enterprise starts to operate.
“Since 2015, the enterprise has entered an entirely new segment, and the company has begun to supply titanium sponge to the largest consumers in the United States, Europe and China for the aerospace industry,” the top manager said.

MILKILAND’S DAIRY PERMITTED TO EXPORT PRODUCE TO EU

KYIV. Sept 7 (Interfax-Ukraine) – Sumy-based dairy factory, which is part of Milkiland, a dairy group with assets in Ukraine, the Russian Federation and Poland, received permission to export dairy products to the European Union.
Relevant permission comes into force on September 12, 2017, according to materials posted on the website of the European Commission.
In addition, the permit to export fish products to the EU was given to LLC Busky canning plant (Lviv) and private company Bester Caviar House (Kyiv region).The permit is also valid from September 12.
All three enterprises sent relevant requests in July this year.

EU SHARE OF UKRAINE’S FOREIGN TRADE REACHES 40% – POROSHENKO

KYIV. Sept 7 (Interfax-Ukraine) – The share of the European Union (EU) of Ukraine’s foreign trade has reached 40%, Ukrainian President Petro Poroshenko has said.
“Recently the [Ukraine-EU] Association Agreement took effect. Thanks to consent of the European Union the year before last to temporarily apply it we can enjoy the preliminary results as growth of our export to the European Union. In particular, in H1 2017, this export grew by 23%, and the EU’s share of Ukraine’s foreign trade has finally reached 40%,” the president said delivering the annual message to the Verkhovna Rada on Thursday.
He also recalled that in 2012, the EU’s share of Ukraine’s foreign trade was 30%, and in 2009 – 25%.
“This is evidence of the start of the integration of the Ukrainian economy into the EU market,” he said.