Business news from Ukraine

Business news from Ukraine

Number of dead and wounded civilians in Ukraine from 24.02.2022 till 05.12.2023 un data

Number of dead and wounded civilians in Ukraine from 24.02.2022 till 05.12.2023 un data

Source: Open4Business.com.ua and experts.news

“Kovalska” to acquire transportation company Winter Cargo

The Antimonopoly Committee of Ukraine (AMCU) has authorized Kovalska Syrovyna LLC of Kovalska Group to acquire a stake in Winter Cargo LLC (Kyiv).

According to the Committee’s decision of February 8, Kovalska Syrvoryna received permission to acquire a stake that ensures exceeding 50% of the votes in the supreme management body of Winter Cargo.

According to Opendatabot, Winter Cargo is engaged in cargo transportation by road and river transport. Its owner is listed as ZNVKIF Skyfall JSC, and the ultimate beneficiaries are Anna and Karina Zlochevsky, registered in Cyprus (daughters of the former Minister of Ecology and Natural Resources of Ukraine Mykola Zlochevsky – IF-U).

As reported, in 2023, Kovalska Group acquired companies and equipment for the extraction of river sand in Kyiv and Chernihiv regions. The company plans to produce up to 1 million tons of river sand per year.

Kovalska Industrial and Construction Group has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the field of raw materials extraction, production and construction. Its products are represented by the brands Concrete by Kovalska, Avenue, and Siltek. Kovalska’s enterprises operate in Kyiv, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in Kherson region has not been operating since the beginning of the occupation. The group also includes Kovalska Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.

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DTEK acquires Stryde system for seismic surveys

DTEK has purchased a system that will increase the efficiency of oil and gas field development.

“Our team has started using the Stryde cable-free seismic survey system, which will help us: conduct exploration at greater depths, improve the accuracy of forecasts, and abandon heavy equipment,” the energy holding said on its Telegram channel on Friday.

According to DTEK, the system has already been successfully used at one of the fields in Poltava region and made it possible to abandon heavy trucks.

As reported, DTEK Oil&Gas produced 2 billion cubic meters of natural gas in 2022 (2.06 billion cubic meters in 2021). In 2023, the company intends to invest $120-130 million in gas production. 70% of these funds will be used to develop new fields.

In November 2022, DTEK Oil&Gas companies acquired the right to develop two gas fields in Poltava region at an open auction: Mayorivska field for UAH 1.102 billion and Birkivsko-Zinkivska field for UAH 211 million.

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Italy to allocate EUR 0.5 mln for restoration of Transfiguration Cathedral

An agreement was signed between Italy and UNESCO, according to which Italy will contribute EUR 500,000 to carry out priority restoration work in the Transfiguration Cathedral, the Odesa mayor’s office reported on Friday.

It is also reported that an Italian government delegation chaired by the Special Envoy for Restoring and Strengthening the Resilience of Ukraine, Davide La Cecilia, is in Odesa on an official visit.

In October 2023, Italy took patronage over the restoration of Odesa and began active cooperation with UNESCO on this matter. La Cecilia noted that with the beginning of Italy’s presidency of the G7, from January 1, 2024, the issue of the restoration of Ukraine was also included in the priorities of the G7.

UNESCO Coordinator in Ukraine Chiara Dezzi Bardeschi presented the main areas of cooperation, including the urgent stabilization of damaged monuments and the creation of a Master Plan for the management of cultural heritage sites. Also in the future – the development of recommendations and protocols for the protection and development of Odesa in accordance with the principles of sustainable development.

It is planned to sign a trilateral Memorandum of Cooperation on the restoration of Odesa (Italy – Ukraine – UNESCO), as well as separately between Italy and Ukraine, where areas of cooperation will be outlined.

Earlier it was reported that Odesa authorities warned about the danger of further destruction of the Transfiguration Cathedral, which suffered from a Russian missile attack on the city on July 23, 2023, and on the night of November 11 last year was flooded after heavy rain.

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EBRD doubles financing for projects in Azerbaijan in 2023

BAKU. Feb 9 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) provided loans totaling 156 million euros in 2023 for implementing two projects in Azerbaijan, the EBRD told Interfax.

The EBRD allocated loans totaling 86 million euros in 2022 to finance nine projects in Azerbaijan, meaning that the bank boosted the volume of financing 1.8-fold in 2023.

The EBRD allocated 310 million euros overall to finance 30 projects in the public and private sectors of Azerbaijan in 2019-2023.

As previously reported, the EBRD plans to allocate $750 million in 2023-2025 in order to implement projects in Azerbaijan.

Azerbaijan has been a member of the EBRD since 1992, during which time the EBRD has allocated 3.62 billion euros to finance 189 projects in the country. The bank’s current portfolio in the country totaled 897 million euros for 31 projects at the beginning of 2024, with 90% in infrastructure, 7% in industry and agriculture, and 3% in the financial sector.

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State Bureau of Investigation seized large batch of smuggled cigarettes

Employees of the State Bureau of Investigation seized a batch of 335 boxes of smuggled cigarettes worth 12 million hryvnia, which tried to export to the EU in gasoline trucks, the press service of the GBI reports.

“Employees of the GBR in close cooperation with the State Border Service and the management of the State Customs Service conduct a complex operation to expose the smuggling of cigarettes to the EU. Joint efforts have exposed an illegal scheme of smuggling cigarettes from Ukraine to Romania, which had been operating since July 2023. Attackers were transporting to the EU large batches of tobacco products without excise stamps”, – stated in the message published in the Telegram channel on Saturday.

It is indicated that the supplier of cigarettes was one of the capital’s enterprises.

“Smuggling dealers hid the contraband in fuel tanks. Loaded with tobacco trucks passed the customs control point as empty, and returned to Ukraine with fuel”, – noted in the GBR.

On February 7, GBR officers detained one of the trucks, which was carrying 130 boxes of cigarettes in a tank, the total value of which exceeded UAH 4 million 550 thousand.

On Saturday, February 10, law enforcers found another similar truck, in which they tried to illegally export cigarettes from Ukraine for 12 million hryvnia.

“Attackers hoped that the first detention of smuggled cargo will put the vigilance of law enforcement officers to sleep and tried to smuggle a batch, three times larger than the previous one,” – emphasized in the message.

In total, about 335 boxes with excisable goods, the approximate value of which may be 12 million UAH, were found.

At the moment the question of notification of suspicion of the driver of the truck on the fact of smuggling of excisable goods (part 1 of article 201-4 of the Criminal Code of Ukraine). The sanction of the article provides punishment in the form of imprisonment for up to 6 years.

“Involvement of customs officials in the specified criminal transaction has not yet found confirmation. Further pre-trial investigation in the criminal proceedings to conduct the Bureau of economic security”, – indicate in the GBR.

Procedural guidance is carried out by Chernivtsi regional Prosecutor’s office.

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