KYIV. Nov 10 (Interfax-Ukraine) – Galnaftogaz Concern (Lviv, OKKO filling station chain) has launched a grain forward program worth UAH 1 billion for 2016/17 agricultural year (July-June).
“This agricultural year we would like to make a forward program for UAH 1 billion and next year to increase financing to UAH 3 billion,” Galnaftogaz Vice President Vasyl Danyliak said at a press conference in Kyiv on Wednesday.
He said that the concern created OKKO-Agrotrade in 2016 to cooperate with farmers.
“We have created a division that would trade with fuel and mineral fertilizers and help to sell harvest. We can cover from 30% to 40% of farmers’ needs with our products,” he said.
In 2016/17 agri-year the company expects to receive 250,000 tonnes of grain under the forward program. The key tools for working with farmers will be future harvest as collateral and agrarian receipts. The financing rate will be 10.5% per annum.
Danyliak said that the company is ready to provide eight types of mineral fertilizers to farmers.
“We have many oil depots. Some of them were sold and some are operating. Today we see that we have opportunities for selling mineral fertilizers from them. We do not have the capacity for storing urea-ammonium nitrate (UAN) in Ukraine. We are ready to give our oil depots for storing it,” he said.
OKKO-Agrotrade Director General Oleksandr Nikolenko said that in the future his company seeks to cover 100% of farmers’ needs in goods and finances required for industrial processes. Among the company’s clients are farmers with land banks from 500 ha to 100,000 ha.
KYIV. Nov 10 (Interfax-Ukraine) – Astarta, one of the largest agricultural enterprises in Ukraine, in January-September 2016 posted a net profit of EUR78.617 million, which is 2.9 times more than in the same period of 2015.
According to its financial report, posted on the website of the holding, its consolidated revenues in the first nine months increased by 8.2%, to EUR216.478 million.
Gross profit increased by 4.7%, to EUR118.936 million, EBITDA amounted to EUR129.006 million against EUR108.118 million for January-September 2015.
Cash flow from operating activities rose by 7.7%, to EUR54.902 million.
Revenues from sugar sales totaled EUR100 million (in the same period last year EUR104 million), and provided 46% of consolidated revenues.
In the first nine months Astarta sold 237,000 tonnes of produce, including 45,000 tonnes for exports, which is 11% less than a year before.
Astarta said on the date of publication of the report its eight sugar factories had processed about 2 million tonnes of sugar beets and produced over 280,000 tonnes of sugar. In general, the company plans this season to process 3.2 million tonnes of sugar beets, 70% of which is grown at own farms.
KYIV. Nov 10 (Interfax-Ukraine) – PJSC State Food and Grain Corporation of Ukraine plans to export flaked grain produced at the corporation facilities in Novoukrainka (Kirovohrad region).
According to a press release, now the corporation is mulling their exports to China.
Over the four months of the 2016/2017 marketing year (MY, July-June) the corporation branches processed 71,600 tonnes of grain, of which 67,600 tonnes of wheat and 4,600 tonnes of rye.
“Over the year, in accordance with the plan, we have to process 320,000 tonnes of grain. However, we have an ambitious task to ensure growth in the share of our refined products in the domestic market and increase exports of finished products to other countries, develop new market areas,” the director of the department of elevator operations and finished products sales, Hennadiy Hordiyenko said.
KYIV. Nov 10 (Interfax-Ukraine) – Bank Trust (Kyiv) will attract an investor to increase charter capital by 2.5 times, to UAH 300 million, the bank has said.
“A meeting of Bank Trust shareholders will be held on December 12, 2016, at which a decision will be made as for increasing charter capital by issuing new shares, including for a new investor – Flexinvest Plc. The investor highly praised the current business model of PJSC Bank Trust and confirmed to the National Bank of Ukraine its readiness to increase the bank’s charter capital by UAH 180 million,” a statement reads.
According to the bank, the planned completion of investing is February 2017.
The bank told Interfax-Ukraine Flexinvest Plc is a Russian company investing particularly in the banking sector.
Bank Trust was founded in 2007.
According to information on the NBU’s website, as of February 22, 2016 the owners of Bank Trust were Volodymyr Avramenko (78.9%), Russian citizen Sergey Belyaev (16.1%), and Sorin Mayerian (5%).
Bank Trust ranked 60th among 101 operating banks in the country on October 1, 2016 by total assets (UAH 825.045 million), according to the National Bank of Ukraine.
KYIV. Nov 9 (Interfax-Ukraine) – Ukraine in January-October 2016 exported electricity worth $123.288 million, in particular in October for $9.003 million.
According to the State Fiscal Service, electricity delivered to Hungary amounted to $93.734 million for the eight months, to Poland to $29.199 million, Moldova to $347,000, other countries to $7,000.
In addition, in January-October 2016 Ukraine imported power worth $3.006 million from Russia, $57,000 from Belarus.
As reported, Ukraine in January-October 2015 exported electricity for $125.689 million, in particular to Hungary for $121.797 million, Poland for $1.672 million, Slovakia for $1.115 million, and other countries for $1.105 million.
KYIV. Nov 9 (Interfax-Ukraine) – Germany would provide a loan of up to EUR 32.5 million to Ukraine for the period of up to 30 years and the grace period of 10 years under the second phase of the project on increase of energy efficiency in power transmission (modernization of transformer substations) by the end of this year, the Economic Development and Trade Ministry of Ukraine reported on Tuesday.
“The project is intended to increase quality of power supply thanks to restoration of transformer substations and strengthening power lines,” the ministry said.
The ministry said that the agreements were reached during a visit of a ministry’s delegation to Berlin on November 3 and November 4 and negotiations with representatives of Germany’s Federal Ministry for Economic Cooperation and Development, KfW Bankengruppe and GIZ.
The total volume of the financial assistance from Germany to be provided by the end of 2016 would be EUR 72 million, the head of the Ukrainian delegation and Deputy Economic Development and Trade Minister Maksym Nefyodov said.
Some EUR 16 million is provided for developing democracy, civil society, public administration, regional development and decentralization, EUR 36 million for energy efficiency and EUR 20 million to build and reconstruct houses for internally displaced persons (IDPs).
Along with this loan, up to EUR 24.5 of financial assistance million would be provided as grants for support of the implementation of projects aimed at strengthening Ukrainian local self-government, construction and reconstruction of houses for IDPs, and the rest of the funds is technical assistance for decentralization, public administration reforms and local energy efficiency projects.
The ministry said that since 2002, Germany has provided EUR 500 million of assistance to Ukraine.
