KYIV. June 5 (Interfax-Ukraine) – Metinvest B.V. (the Netherlands), the parent company of Metinvest international vertically integrated mining and steel group, in January-March 2015 saw EBITDA worth $341 billion, which is 61% down compared to the same period in 2014 ($878 million).
According to the company’s unaudited consolidated financial statements in line with IFRS, which were posted on the Irish Stock Exchange, in the first quarter of 2015 its consolidated EBITDA dropped due to the decrease in the mining division’s EBITDA by $668 million, to $106 million, which was partially offset by the increase of $116 million in the steel division’s EBITDA, to $253 million.
KYIV. June 5 (Interfax-Ukraine) – Public joint-stock company Dyckerhoff Cement Ukraine (earlier Kyivcement, Kyiv), part of Germany’s Dyckerhoff AG, plans to create branches of Volyn-Cement (Zdolbuniv, Rivne region) and Yugcement (Olshanske, Mykolaiv region).
The company said that the decision was made on June 2 by the company’s supervisory board.
“The economically autonomous structural subdivisions of the public joint-stock company have been created with the purpose of expanding sales markets, boosting sales in other regions of Ukraine,” reads the report.
According to the report, divisions Volyn-Cement branch of Dyckerhoff Cement Ukraine and Yugcement branch of Dyckerhoff Cement Ukraine will be located in Zdolbuniv and Olshanske. They are registered at the addresses of the two plants of Dyckerhoff Cement Ukraine.
Dyckerhoff Cement Ukraine was founded in 1994 via privatization of Kyivinzhcement. The company sells and packages cement made by Volyn-Cement.
Dyckerhoff AG is a member of Buzzi Unicem, which unites cement, concrete, sand and crushed stone producers. Dyckerhoff AG’s core business is the production of cement made at its enterprises in Germany, the United States, Luxemburg, the Czech Republic, Poland, Russia and Ukraine.
KYIV. June 5 (Interfax-Ukraine) – Ukraine and Lithuania are mulling the possible ways of organizing supplies of freight and passenger cars, and diesel and electric trains made by public joint-stock company Kriukov Car Building Works (KCBW, Poltava region) for Lithuanian railways, including the setting up of joint production.
The Infrastructure Ministry of Ukraine said in a press release that the issue was discussed at the 16th meeting of the intergovernmental commission for trade, economic and research cooperation, as part of international transport week on June 2 in Odesa.
Ukrainian Infrastructure Minister Andriy Pyvovarsky headed the Ukrainian delegation and Lithuanian Economy Minister Evaldas Gustas headed the Lithuanian delegation.
According to the press release, the parties also agreed to continue active work on the promotion of the Viking train project to the Turkish market, taking into account the development of two possible routes: by the Black Sea or via Romania and Bulgaria.
The sides also expressed their mutual interest in the development of container shipments using the Viking train.
“In the context of the readiness of Azerbaijan to join the project in the near term [this] was assessed as a good prospect to attract freight shipments from the Central Asia and China via the TRACECA transport corridor,” reads the press release.
There is an ongoing agreement to electrify the IX-B international transport corridor to increase the economic attractiveness of the train.
The Ukrainian delegation said at the meeting that in 2016-2017 the Korosten-Ovruch- Slovechne section will be electrified, which is part of the IX-B corridor. Lithuania plans to finish electrification in early 2016.
KYIV. June 4 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko supports the quick deregulation in Ukraine and the reduction of the number of services provided by state authorities, as they are additional obstacles both for business representatives and ordinary citizens, the president’s press service has reported.
“If we are talking about the simplification of business conditions in Ukraine, if we want to demonstrate to the world that the country has radically changed, the issue of deregulation is a top priority,” he said at the seventh meeting of the National Reforms Council.
The press service said that the issue must be settled at the legislative level.
“We must choose priorities and develop a model. Then we must provide expert evaluation and settle this issue legislatively in the nearest time,” Poroshenko said, adding that the current system solely creates conditions for corruption.
The president expressed hope that the prime minister and lawmakers will endorse respective bills on the acceleration of deregulation.
KYIV. June 4 (Interfax-Ukraine) – Ukraine must complete all the technical tasks it has been set by the EU by late August 2015 to be granted a visa-free regime in 2016, Ukrainian President Petro Poroshenko has said.
“This is not long to come, but we need the relevant breakthrough to make the good finish. All technical tasks are to be fulfilled by late August, as in September we’re waiting for the EU mission. I personally will control the tough schedule every day, and the government must feel the large responsibility they have,” Poroshenko said while addressing the parliament in his annual speech on Thursday.
“Once again we felt powerful European unity at the Eastern Partnership summit in Latvia. Despite the fact that Ukraine is in a state of war, despite the fact that part of our border is not under our control contrary to our desire, despite the fact that there are thousands and hundreds of thousands of refugees exiled by Russia from their living places… the prospect of visa free regime was first registered in the calendar,” Poroshenko said.
KYIV. June 4 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has said Ukraine should continue the privatization of state enterprises.
“Of course, I support the thorough control of the parliament over privatization. The more transparent it will be, the better it is. I also support the idea that you, dear lawmakers, will set the rules of privatization and a list of facilities under a proposal of the government. We have over 1,800 enterprises. We have no more than 200 [enterprises that are] vitally important for the state. Of course, we would not sell Ukrzaliznytsia or defense enterprises, but who can explain me why the state needs stud farms which are also on the list of companies that are not subject to privatization?” he said while addressing the parliament in his annual speech on Thursday.
“Finally, the major part of the enterprises put on the list of companies that are not subject to privatization has not received any kopeck of investment during two years and they are doomed to failure in a competitive fight,” he said.
Poroshenko said that equipment and technologies at the enterprises are at the level of the 1930s.
“They would not survive if they do not receive effective direct investment and effective management both from domestic and western investors,” he added.
