Cygnet Agrocompany invested $2.3 million in upgrading its agricultural machinery and tractor fleet and equipment at the sugar plant in 2018, according to a report on the company’s corporate social responsibility for 2018. In particular, investment in agricultural machinery and tractor fleet amounted to $1.46 million, while $871,000 was spent on upgrading the equipment of the sugar factory in Zhytomyr region, the report said. This allowed the company to reduce natural gas consumption at the enterprise by 10%.
As reported, investment in the modernization of the sugar refinery in 2017 amounted to $2.7 million. Investment in upgrading the company’s agricultural machinery and tractor fleet amounted to UAH 78.9 million, or $2.8 million.
Cygnet’s sugar refinery completed the production season in early December 2018, reducing production to 28,700 tonnes of sugar (13.8% down from the previous season). The company’s grain facility received 292,000 tonnes of grain (29% up from 2017).
Cygnet processes about 29,000 hectares in Zhytomyr and Vinnytsia regions, where it grows maize, soybeans, winter wheat, sugar beets. Its storage facility is able to store 60,000 tonnes of grain simultaneously. Its sugar refinery is able to process up to 2,800 tonnes of sugar beets per 24 hours. Both facilities are located in Zhytomyr region.
The company is also engaged in milk production, has 605 cows. It sells milk to local processing companies.
The resumption of the interest of foreign investors to the hryvnia-pegged government domestic loan bonds is not yet brining risks for the country’s economy, according to members of the monetary policy committee of the National Bank of Ukraine (NBU).
“Usually, the risks associated with the inflow of short-term debt capital arise from its entry into the private sector with subsequent overheating of consumer demand. As for the capital inflows mainly in government loan tools, the risks of economic vulnerability are minimized. In addition, the inflow occurs in hryvnia-pegged loan tools that shifts currency risks to foreign investors,” the committee members said at a meeting, which minutes are dated January 30, 2019.
The committee members also draw attention to the fact that nonresident investment in government bonds remains insignificant relative to the total amount of government bonds on the market, and does not exceed the figures of the previous year. Moreover, thanks to the inflow of capital from nonresidents, the NBU has the opportunity of increasing international reserves, that is, creating a “safety cushion” in case of a possible outflow of capital.
As reported, nonresidents in January 2019, after six months of absence, resumed investments in government bonds. According to the NBU, since the beginning of the year as of February 11, the portfolio of government bonds owned by nonresidents more than doubled, to UAH 13.418 billion. At the same time, the total amount of government bonds issued by this date was UAH 758.182 billion, including the NBU owning securities for the amount of UAH 340.724 billion, banks – UAH 372.805 billion, legal entities – UAH 24.433 billion, and individuals – UAH 6.802 billion.
National Energy Company Ukrenergo has signed a contract with Lalive S.A. (Switzerland) to present the interests of the company in a case on compensation of losses due to annexation of Crimea by Russia. According to a company report in the ProZorro e-procurement system, the contract on the provision of legal services worth EUR 1.537 million (or UAH 49.9 million without VAT) was signed on February 6, 2019.
Covington & Burling, Hughes Hubbard & Reed, and Quinn Emanuel Urquhart & Sullivan UK also took part in the tender.
Lalive will provide Ukrenergo with the services of preparing and sending a notice of arbitration to the dispute, determining the nomination of arbitrators and shaping the composition of international arbitration, drafting a claim and applying to arbitration, representing the interests of the company in arbitration tribunal and obtaining the award.
As reported, Lalive represented the interests of the following companies in disputes against the Russian Federation regarding lost investments: Ukrnafta, Stabil, and Yukos Capital.
In April 2018 Ukrenergo officially notified the Russian Federation about the start of an investment dispute over the company’s assets seized in Crimea. According to estimates by Ukrenergo, only the cost of the company’s power grids in the peninsula is about $1 billion.
Ukrenergo operates trunk and interstate transmission lines, as well as centralized dispatching of the country’s integrated power grids. It is a state-owned enterprise, which was managed by Ukraine’s Energy and Coal Industry Ministry.
JSC Kyiv River Port plans to build a class A logistic complex with a cargo area and a terminal for a cement base, the port has reported on its website. In addition, the port plans to focus on the development of rail and container traffic; as well as actively develop trade relations and transportation with Belarus.
The logistics complex with a cargo area will occupy an area of 10,000 square meters, of which 2,000 square meters will be reserved for office space.
The railway infrastructure is planned to be used, first of all, for work with sand, crushed stone, metal and cement.
In addition, the company said that, since 2014, the company has provided over UAH 40 million for the development of infrastructure.
“A customs complex with an international checkpoint was built, office buildings, workshops and warehouses were reconstructed and repaired, the territory was cleared of garbage and modern security equipment was installed. The railway line was fully restored and weight complexes were installed,” the company said.
The ships also installed new navigation equipment and modern security equipment, an icebreaking tug and a floating crane were purchased.
“Today, the Kyiv River Port is successfully developing in eight directions, starting with cargo handling services and ending with passenger transportation,” the company said.
One troy ounce=31.10 grams
