KYIV. July 3 (Interfax-Ukraine) – Public joint-stock company Vesco (Druzhkivka, Donetsk region), uniting clay mining business of UMG investment company under control of SCM, has opened a representative office in Kyiv in relation to expansion of its operations.
The decision was made by the company’s supervisory board aiming at carrying out commercial, trade, intermediary, marketing and other activities and providing profit-making services.
The company also said that the supervisory board of Vesco on June 29 decided to raise an interest-free repayment financial assistance from its branch – private joint-stock company Vohneupornerud (Donetsk region) – in the amount of UAH 250 million until October 2, 2017.
Vesco on June 20 decided to provide an interest-free repayment financial assistance in the amount of UA H150 million to UMG Agro and UAH 200 million to UMG Trading until October 2, 2017.
The supervisory board of the company on June 30 decided to take an interest-free repayment financial assistance in the amount of UAH 25 million from Vohneupornerud until October 2, 2017.
On June 30, the board decided to provide an interest-free repayment financial assistance in the amount of UAH 150 million to UMG Agro until October 2, 2017 and UAH 150 million to UMG Trading.
The company’s board on June 30 decided to provide UAH 200 million of the interest-free repayment financial assistance to SCM until October 6, 2017.
KYIV. July 3 (Interfax-Ukraine) – ICU investment group has launched Ukraine Recovery Fund to invest in Ukraine distressed assets and seeks to raise around $200 million to the fund, ICU Managing Director and Partner Makar Paseniuk has said.
“Fundraising is rather good. We want to raise around $200 million,” he told reporters in Kyiv last week.
Paseniuk said that the fund was registered in May 2017 on Cayman Islands.
He said that the fund will operate for seven years. The smallest sum for investment is $1 million.
He said that Ukraine Recovery Fund will focus on investment in medium- and large-sized businesses. The size of investment in one project is restricted with 20% of the fund capital. The key directions are agriculture, FMCG, food and specialized retail, mining and property.
Paseniuk said that ICU sees the Individuals Deposit Guarantee Fund, banks that are optimizing their portfolios, including international banks that want to remove ‘Ukrainian risk’ from their balance sheets, as key sellers of these distressed assets.
Asked about the expected yield, he said that expectations from these investments in the world are 15-20%, and for Ukraine the minimum figure for entering a project is 20%.
ICU Group was established in June 2006. It provides services for trade in securities, investment banking services, and manages the assets of joint investment institutions. It includes Investment Capital Ukraine LLC, AMC Investment Capital Ukraine, Bank Avangard and AMC Troika Dialog Ukraine (all based in Kyiv). Previously the co-owner and the head of the board of directors in the group was Valeriya Gontareva, whom, at the proposal of President of Ukraine Petro Poroshenko, the parliament approved at the post of head of the National Bank of Ukraine in June 2014.
Afterwards Gontareva sold her stake in ICU, while the main partners of the group remained Makar Paseniuk and Kostiantyn Stetsenko with the shares of 41.7%, as well as Oleksandr Valchishen and Volodymyr Demchyshyn, who headed the Ministry of Energy and Coal Industry of Ukraine, who own 6.58% and 9.99% respectively.
KYIV. June 30 (Interfax-Ukraine) – Chinese investors are ready to invest $10 million in construction of a new runway in the Zhytomyr airport.
According to the report of the Zhytomyr City Council, representatives of CCCC First Highway Engineering Co. (CFHEC) made this statement at a meeting with the owner of the airport and Zhytomyr Mayor Serhiy Sukhomlyn.
“Our Chinese partners have shown their interest in building a modern runway at the Zhytomyr airport. If the project is implemented, Zhytomyr could expect that low cost airline would come,” Sukhomlyn said.
As reported, the Zhytomyr regional airport after a 25 year idle period serviced the first technical flight of Yanair airline’s Saab 340 plane on January 29, 2016.
Airport Director Serhiy Budiak then said that the operation of the air field began.
France’s Engie (earlier GDF Suez SA) and the State Agency for Energy Efficiency and Energy Saving of Ukraine have discussed construction of ‘green’ power facilities in Ukraine, the press service of the agency has reported.
“State Agency for Energy Efficiency and Energy Saving Head Serhiy Savchuk has discussed Legislative grounds and the specifics of the implementation of ‘green’ projects in Ukraine with representatives of France’s Engie, a leading player on the global electricity market,” the press service said.
As reported, Engie started supplying natural gas to Ukraine in January 2017.
KYIV. June 30 (Interfax-Ukraine) – Head of the EU Delegation to Ukraine Hugues Mingarelli has called on Ukrainian scientists to more actively participate in the EU Framework Programme for Research and Innovation “Horizon 2020.”
Ukraine should be one of the key participants of the Horizon 2020, the largest programme supporting research in the world, he said at the international conference “Ukraine – EU: Integration in a Changing World” in Kyiv on Thursday.
He said that Ukraine has a scientific potential. The country should take active part in the programme.
As reported, in December 2016, Ukraine’s Cabinet of Ministers created a coordination center to implement the EU Framework Programme for Research and Innovation “Horizon 2020.”
In 2015, Ukraine has become an associated member of the Horizon 2020 Programme. In 2016, Ukrainian scientists are participants of 61 consortiums involved in the programme. Their share of the project budgets exceeds EUR 11.5 million. The annual fee paid by Ukraine to the programme budget is around EUR 5.8 million. The country would receive the half of it back via technical assistance tools.
KYIV. June 30 (Interfax-Ukraine) – Fujikura Automotive Ukraine Lviv LLC, controlled by the Japanese manufacturer of electrical equipment and telecommunications systems Fujikura, is launching production lines in penal centers of Lviv region where around 400 convicted persons will work.
According to a posting on the website of Lviv Regional Administration, this was discussed at a meeting of Lviv Regional Administration Head Oleh Syniutka and Ukrainian Justice Minister of Ukraine Pavlo Petrenko.
Department head of the western inter-regional division for enforcement of criminal sanctions of the Justice Ministry Mykhailo Dziudzia said that production lines were launched in Lychakov penal center No. 30.
Preparations for launching production lines in Drohobych penal center No. 40 and Zbarazh penal center No. 63 are underway.
Fujikura Automotive Ukraine Lviv in April and September 2016 opened two automotive parts plants in Lviv region and in May 2017 First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv said that the company wants to open two more plants in Ukraine – in Vinnytsia and Cherkasy with 1,500 new jobs each.
Fujikura Automotive Ukraine Lviv also plans to expand the work of two major enterprises in Lviv region and increase the number of employees from 2,000 to 3,000, he said.
Fujikura was founded in Japan in 1885 and gradually expanded to an international corporation engaged in innovative technologies. The turnover of the company exceeds EUR5 billion per year. The company’s representative offices operate in the United States, Singapore, Malaysia, Great Britain, Vietnam, and India. Its staff exceeds 50,000 employees worldwide.
