Business news from Ukraine

Business news from Ukraine

TEXTILE-KONTAKT LAUNCHES SEWING FACTORY IN POLTAVA REGION

The Textile-Kontakt Group, a large retail and industrial groups on the light industry market in Ukraine, has launched a sewing factory in Lubny (Poltava region), which will make overalls, the company has reported on its website. “This is the fourth platform of the company, focused on implementing complex orders,” the company said.
As reported, the holding’s sewing factories operate in Kyiv, Chernihiv and Odesa. The production capacity of the new factory is 90,000 sets per year. It is planned, in particular, to sew military field and summer uniform sets, as well as uniform sets with special properties (fire-resistant, water-repellent).
According to the company, the new factory can implement government orders for the supply of uniforms and workwear for the Ministry of Defense and the National Guard of Ukraine, Ukrzaliznytsia, airports and nuclear power plants.
The press service told Interfax-Ukraine that Textile-Kontakt invested about UAH 4.5 million in the new factory. “The fabric for sewing will be basically ours, and the threads are completely ours (the Barva trademark). We want to create a closed production cycle,” the company said.
A total of 97 people have been employed at the sewing production facility in Lubny today. Textile-Kontakt was founded in 1995 and today represents a holding company that combines various areas of assets: wholesale and retail trade, the import of fabrics, accessories and home textiles, as well as tailoring of special clothing (including military uniforms).

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UKRENERGO PRESENTS PLATFORM FOR NEW WHOLESALE POWER MARKET

National Energy Company Ukrenergo has presented the Market Management System platform for two new segments of the wholesale electricity market (the balancing market and the ancillary service market), which has been functioning in the test mode since December 2018. “Now we are trying to organize the schedule of our work in such a way as to create minimally sufficient functionality for launching a new market on July 1,” Ukrenergo CEO Vsevolod Kovalchuk said at the presentation on Tuesday.
He recalled that the platform developers intend to suspend work due to slippage in the payment schedule: the Energy and Coal Industry Ministry stopped agreeing on payments after the reassignment of Ukrenergo to the Finance Ministry.
Kovalchuk expressed hope that the problem will be resolved in March. To this end, the Finance Ministry and the Justice Ministry will prepare draft amendments to a resolution of the Cabinet of Ministers and the contract of Ukrenergo with a consortium of contractors. Approval of the changes will allow transferring the payment approval functions of Ukrenergo from the Energy and Coal Ministry to the Finance Ministry, which will unblock the payment process for software being developed for the new wholesale electricity market, the head of the transmission system operator said.
Currently, the Market Management System platform operates in test mode. The players of the energy market – producers, electricity suppliers and distribution system operators – are being registered. Data on consumption and transmission of energy is collected for the development of mathematical models that will allow forecasting misbalances in the market of electricity (the difference between predicted and actual consumption).
According to Ukrenergo, today the level of filling the platform with data is insufficient, so the indicators in it are not relevant.

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UKRAINE CUTS STEEL PRODUCTION BY 5%, RANKS 13TH IN WORLDSTEEL RATING

Ukrainian metallurgical enterprises in January 2019 reduced steel production by 4.9% compared to the same period in 2018, to 1.850 million tonnes, moving from the 12th to 13th place in the ranking of 64 countries, the major global manufacturers of these products, compiled by the World Steel Association (Worldsteel).
A decrease in steel production in most of the top ten countries, except for China, the United States and Brazil was recorded in January.
The top ten producer countries in January are as follows: China (75.013 million tonnes, an increase of 4.3%), India (9.180 million tonnes, a fall of 1.9%), Japan (8.141 million tonnes, a drop of 9.8%), the United States (7.647 million tonnes, an increase of 11%), South Korea (6.211 million tonnes, a fall of 1.5%), the Russian Federation (5.790 million tonnes, a fall of 4.5%), Germany (3.410 million tonnes, a decrease of 7.2%), Brazil (2.933 million tonnes, an increase of 2.3%), Turkey (2.565 million tonnes, a drop of 19.5%), and Iran (2.230 million tonnes, a fall of 2.6%).
They are followed by Taiwan (2.010 million tonnes, an increase of 10.4%), Italy (1.959 million tonnes, a decrease of 3.6%), and Ukraine (1.850 million tonnes, a fall of 4.9%).

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