Business news from Ukraine

Business news from Ukraine

UKRAINE EXPORTS ELECTRICITY FOR $152 MLN IN 2016

KYIV. Jan 7 (Interfax-Ukraine) – Ukraine in 2016 exported electricity worth $152.063 million, in particular in December for $14.278 million.

According to the State Fiscal Service, electricity delivered to Hungary amounted to $119.317 million last year, to Poland to $32.392 million, Moldova to $347,000, and other countries to $7,000.

Thus, in money terms exports of Ukrainian electricity last year grew by 1.3% or $2.007 million compared to 2015 ($150.056 million).

In addition, in 2016 Ukraine imported power worth $3.63 million ($3.565 million from Russia and $65,000 from Belarus), while electricity for $84.874 million was imported in 2015.

As reported, Ukraine in 2011 exported electricity for $399.963 million, in 2012 – for $574.819 million, in 2013 – for $580.195 million, in 2014 – for $487.185 million, and in 2015 – for $150.056 million.

UKRAINE EXPORTS NITROGEN FERTILIZERS WORTH $322 MLN IN 2016

KYIV. Jan 7 (Interfax-Ukraine) – Ukraine in 2016 exported nitrogen mineral or chemical fertilizers (foreign trade code 3102) for a total of $321.614 million and imported for $216.095 million.

According to the State Fiscal Service, supplies to Turkey amounted to $113.724 million, Italy to $45.42 million, India to $35.502 million, and other countries to $126.968 million.

Imports of nitrogen fertilizers in the last year were carried out from Russia for $166.72 million, Belarus for $24.04 million, Kazakhstan for $10.583 million, other countries for $14.752 million.

In addition, Ukraine in 2016 exported ammonia (code 2814) worth $40.569 million, while imports stood at $51.802 million.

VIKTOR & K TO LAUNCH SOYBEANS PLANT IN AUTUMN

KYIV. Jan 6 (Interfax-Ukraine) – Private enterprise Viktor and K (Svitlovodsk, Kirovohrad region, the Korolivsky Smak trademark) plans in autumn 2017 to launch a soybeans plant, at which nearly 1,000 jobs will be created, according to the Uriadovy Kurier newspaper.

According to the report, currently the construction of these facilities is “under way.”

In addition, Viktor and K is currently completing the construction of sewage treatment plants and a product storage terminal, which will be fully computerized.

According to the publication, currently the company employs about 2,000 people. Its processing capacity is 400-500 tonnes of seeds per day, production capacity is 170-210 tonnes of oil per day and up to 30 tonnes of mayonnaise per shift, the capacity of two elevators is 17,000 tonnes.

According to the Uriadovy Kurier newspaper, Viktor and K was founded in 1998 by Viktor Korol, who also owns the Korolivsky Smak brand. According to the state register, Korol is the sole owner and CEO of the company.

WIZZ AIR TO INCREASE PASSENGER TRAFFIC ON KYIV ROUTES BY 64% IN 2017

KYIV. Jan 6 (Interfax-Ukraine) – Hungarian low-cost airline Wizz Air has put 750,000 tickets for Kyiv routes up for sale for 2017, which is 64% more in comparison with the previous year, according to a press release from the company.

According to its data, in 2016 Wizz Air transported to/from Ukraine more than 418,000 passengers.

As reported, in 2017 the Wizz Air fleet in Kyiv will be replenished with the second Airbus A320 aircraft. Wizz Air in Ukraine carries out flights on 16 low-cost routes from Kyiv to eight countries. In particular, flights from Kyiv to Copenhagen and Nuremberg, which will be open from August. In addition, from August the frequency of flights to Budapest (up to daily), Dortmund, Munich and Bratislava (up to four per week) and to Cologne and Hamburg (to three per week) will be increased.

Formerly, Wizz Air Ukraine, a subsidiary of Wizz Air, operated in Ukraine, but its activity was suspended for several reasons, mostly commercial.

U.S. ABOLISHES DUTIES ON DRY CARBAMIDE FROM UKRAINE

KYIV. Jan 6 (Interfax-Ukraine) – The United States from December 20, 2016 cancelled anti-dumping duties on dry carbamide from Ukraine, the press service of the Ministry of Economic Development and Trade of Ukraine has said.

“The U.S. Department of Commerce decided from December 20, 2016 abolish measures in relation to the Ukrainian goods,” a statement reads.

Anti-dumping duties on dry carbamide were introduced in 1987, first on goods originated in the USSR, then on goods from all the countries that withdrew from the union.

DCH GROUP LAUNCHES KHARKIV TRACTOR PLANT ON JAN 6

KYIV. Jan 6 (Interfax-Ukraine) – DCH Group of businessman Oleksandr Yaroslavsky has officially announced that Kharkiv Tractor Plant started operating on January 6, the press service of the group has reported.

“Today is the joyful day in the history of Kharkiv Tractor Plant: we have a chance of starting the processes required for the launch of production,” the press service said citing Yaroslavsky.

He also thanked Ukrainian President Petro Poroshenko and Head of Kharkiv Regional Administration Yulia Slitlychna for participation in deciding the fate of the enterprise.

“I am thankful to the Ukrainian president for help in unblocking operation of the plant and the governor of Kharkiv region for consistent support of our efforts in this direction,” he said.

DCH said that employees of the plant involved in the preparation of production facilities for their launch headed by Director General Andriy Koval went working on January 6.

“I as investor in the Kharkiv Tractor Plant aim at providing for rhythmic production process despite all accumulated problems. We are sending workers to the workshops, mobilizing engineers and start launching production. We would have to recover market channels, restore technological potential and economic ties and modernize production facilities. This is a serious scope of work. From the first minute of this day we have started solving these tasks,” Yaroslavsky said.