Metinvest Group’s Kametstal Iron and Steel Works (Kamianske, Dnipro Oblast) has installed a new single-stage blower in cooperation with YASNO Energy Efficiency, which will help reduce energy consumption and cut operating costs in the process of blast furnace gas injection at gas-assisted compressor station No. 6.
According to the company, the new gas blower, which plays a key role in the technological process of transporting blast furnace gas of the required performance and pressure parameters for rollers, has an average electricity consumption of 200 kWh, taking into account the efficiency of the electric motor and control system. The capacity and pressure control is ensured by the installed guiding apparatus and a 0.4 kV frequency converter. The control systems are individually designed on the basis of a Siemens controller to operate in automatic mode within the specified performance range.
It is specified that the hourly power consumption of the previous equipment averaged 650 kWh. With a nominal capacity of 850 kWh, it required manual adjustment of the required parameters, which also reduced the stability of maintaining the required performance parameters and pressure of blast furnace gas in the existing pipelines through which it is transported to the heating furnaces of the pipe billeting mill.
A modern European-made supercharger was installed at the existing industrial site. Thanks to the optimal solutions implemented by the company’s power engineers, the maximum amount of available process equipment was used. Along with the dismantling of the previous equipment, the contractors relocated existing utilities, reconstructed the electrical room, and laid a new cable line from the substation to the gas compressor station 6.
“Kametstal was established on the basis of PJSC Dnipro Coke and Chemical Plant (DKKhZ) and PJSC Dnipro Metallurgical Plant (DMK).
According to the 2020 report of Metinvest Group’s parent company, Metinvest B.V. (Netherlands) owned 100% of the shares in DCCP.
JSC OTP BANK, as part of a joint program with the European Bank for Reconstruction and Development (EBRD), offers small and medium-sized enterprises (SMEs) investment loans to support their business in times of war with the possibility of compensation for part of the costs financed by the Bank’s credit facilities. The parties have recently signed a new cooperation agreement that will allow OTP Bank to provide EUR 120 million of financing to the Ukrainian private sector with the participation of the EBRD through a 50% credit risk coverage instrument on a portfolio basis.
“This program is, in fact, a successful expansion of the previous cooperation with the EBRD, which was in great demand among our clients, and is aimed at supporting such critical industries as agriculture, production and trade of essential goods, logistics services and others. Thanks to this lending instrument, companies are able to continue their operations, develop and ensure the availability of goods and services to the population,” said Natalia Kondratchuk, Head of Corporate Finance Department of OTP Bank.
“Such loans under portfolio guarantees can be used to support long-term investments of SMEs in green technologies (modern agricultural machinery and other energy-efficient equipment, solar panels for power plants to meet their own needs) that meet the standards of the European Union and will help increase the competitiveness of enterprises in domestic and foreign markets. After the investment project financing is implemented, SME borrowers will be able to apply for investment incentives (cash compensation, cashback) provided by the EU under the EU4Business initiative.
The amount of compensation depends on the type of assets acquired and the complexity of the project and can be up to 15% of the amount of loan funds received. Reimbursement is made in euros after documentary evidence of the intended use of funds by the SME borrower and verification of documents by the European Bank for Reconstruction and Development.
The signed agreement is a continuation of the cooperation between the EBRD and OTP Bank in supporting Ukrainian business, which began in 2022. One of the components of this cooperation is the implementation of a program to increase the competitiveness of small and medium-sized enterprises in the EU’s Eastern Partnership countries. Since the beginning of the full-scale war, the total amount of new financing from Ukrainian banks, supported by similar EBRD guarantees, reached about EUR 900 million as of the end of 2023.
In the first quarter of 2024, KSG Agro agricultural holding reduced its net profit by 37% to $0.96 million, while revenue decreased by 2% to $5.02 million, according to the company’s report on the Warsaw Stock Exchange.
“As in the previous year, the Group used more of its own grain for feed production rather than purchasing it (to reduce dependence on external suppliers of feed components in wartime). In 2024, the Group continues to export grain,” the document says.
According to it, due to a 10-fold increase in the benefits of biological transformation this year (up to $1.06 million), gross profit increased by 10% to $2.26 million, operating profit by 5% to $1.61 million, while EBITDA decreased by 2% to $1.83 million.
It is specified that the higher profit last year was due to the sale of a subsidiary for $0.76 million.
According to the report, KSG Agro managed to slightly reduce its net debt in the first quarter of this year to $15.06 million from $15.63 million due to a reduction in bank loans to $15.17 million from $15.84 million. The agricultural holding’s free cash flows at the end of March amounted to $0.11 million compared to $0.21 million at the beginning of the year.
During January-March 2024, the key operating subsidiary KSG Dnipro issued $5 million of C and D series bonds with a coupon rate of 7% per annum and maturity in August and October 2025, respectively, of which it placed $1.35 million of C series bonds.
As noted, the sowing campaign is proceeding according to plan, without significant interruptions due to military operations. As of the date of the report, the group sowed sunflower on an area of 7.7 thousand hectares, wheat on 2.2 thousand hectares and rapeseed on 1.43 thousand hectares.
According to the report, KSG Agro, a vertically integrated holding company, is one of the top 5 pork producers in Ukraine. It is also engaged in the production, storage, processing, and sale of grains and oilseeds. Its land bank is about 21 thousand hectares in the Dnipro and Kherson regions.
In 2023, KSG Agro reduced its net loss by 30.9% to $1.16 million, while revenue increased by 13.8% to $18.79 million.
The demand for labor of various professions and qualifications is growing in Kyiv. At the beginning of May, the database of the capital’s employment service contained about 3,000 current vacancies. However, many businesses are experiencing a shortage of skilled workers.
Every fifth vacancy is for professionals: engineers, teachers, analysts and economists. Due to the martial law, there is an increased demand for representatives of blue-collar professions that were previously considered predominantly male: installers, electricians, mechanics, electric and gas welders, seamstresses, building maintenance workers, and painters.
Employers are looking for specialists in various fields: accountants, nurses, educators, electricians, personnel inspectors, and paramedics. Trade and service workers are in demand, including cooks, salespeople, educators’ assistants, and social workers. At the same time, there is a growing demand for unskilled labor, such as cleaners, unskilled laborers, loaders, and kitchen workers.
TOP vacancies with the highest salaries:
– Defense forces: inspectors and police officers of the special police – UAH 126 thousand;
– IT industry: software engineers, software development and testing specialists, software engineers – UAH 110 thousand;
– enterprises with foreign investments: professionals in the organization of protection of information with limited access – 69 thousand UAH, sales managers – 67 thousand UAH, journalists – 54 thousand UAH, editors – 51 thousand UAH, analysts – 50 thousand UAH, psychologists – 47 thousand UAH;
– skilled professionals: public procurement specialists – UAH 45 thousand, chief accountants – UAH 43 thousand, plastic surgeons, carpenters and vehicle drivers – UAH 40 thousand each.
While offering modern competitive salaries, employers also place high demands on the qualifications of candidates. The Kyiv City Employment Service, through employment promotion programs, vocational training and an individual approach, will provide jobs for all job seekers and, if necessary, help them increase their competitiveness in the labor market.
Number of refugees from Ukraine in selected countries as of 31.03.2024
Source: Open4Business.com.ua and experts.news
The British Parliament stopped working on Thursday in connection with the general election on July 4, according to the parliament’s website.
“Parliament was dissolved on Thursday, May 30, 2024. All business in the House of Commons and the House of Lords has been completed. There are currently no MPs, and all seats in the House of Commons remain vacant until the general election on July 4, 2024,” the website said.
Sky News notes that the parliament was dissolved immediately after midnight.
The dissolution of parliament before elections is a standard procedure.
Earlier, The Guardian reported that on July 9, the parliament would reconvene with a new composition to elect a speaker and swear in MPs.
The opening ceremony is scheduled for July 17.
Earlier, the Experts Club think tank presented an analytical material on the most important elections in the world in 2024, the possible elections in the UK are in the TOP 5 most important in the world in 2024, more detailed video analysis is available here – https://youtu.be/73DB0GbJy4M?si=eGb95W02MgF6KzXU
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