Business news from Ukraine

STATE-OWNED UKRZALIZNYTSIA RAISES LONG-HAUL PASSENGER TRAFFIC BY 8%

JSC Ukrzaliznytsia in 2018 transported 55.9 million passengers in long-haul trains, which is 7.7%, or almost 4 million people, more than in 2017. According to the company’s website, the company managed to increase railroad passenger traffic despite the decrease in the number of cars. “We used many trains after the night trip as day trains. And then again on a night trip. First of all, it concerns the period of peak traffic, long weekends. We put on about 40 additional trains for these Christmas and New Year holidays, more than 300 trips,” acting head of Ukrzaliznytsia Yevhen Kravtsov said.
At the same time, he stressed that to preserve the traffic volume, the company must annually update the passenger car fleet with at least 200 cars. “Unfortunately, due to low tariffs and unprofitability of this transportation, in this matter we need support from the state, namely, the allocation of funds from the budget of Ukraine for the purchase of passenger wagons as provided for by the law on railway transport,” he stressed.

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TASСOMBANK RAISES CHARTER CAPITAL BY 57.3% DUE TO MERGER OF VS BANK

TAScombank (Kyiv) has increased its charter capital by UAH 420 million, or 57.3%, to UAH 1.153 billion due to the merger of VS Bank (Lviv), TAScombank said in the information disclosure system of the National Securities and Stock Market Commission.
According to the report, Alkemi Limited reduced its share in the charter capital of TAScombank to 63.5% from 99.9%. At the same time, Bailican Limited became the owner of 36.4% of the shares. These companies are owned by Sergiy Tigipko, who indirectly owns 99.93065% of TAScombank.
As reported, in mid-October-2018 TAScombank and VS Bank completed the merger process.
At the beginning of November 2017, the National Bank of Ukraine allowed Tigipko to indirectly purchase a 99.9% stake in VS Bank. The direct buyer was the Cypriot company Bailican Limited. The deal was closed in early December 2017.

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EPICENTER WILL BUILD FIVE NEW ELEVATORS WORTH EUR 50 MLN IN 2019

Epicenter K, which has been actively developing agricultural business in the last two years, in 2019 will build five new elevators with a total value of about EUR50 million.
According to the press service of Epicenter, the company signed a contract for the construction of elevators with the Polish manufacturer of complex granaries Feerum S.A, which will provide a “supplier credit” to Epicenter for the implementation of the project. According to the Feerum website, the terms of the loan provide for an advance payment of 15%, the remaining 85% are payable within five years.
The total capacity of the new elevators will be 725,000 tonnes. The complexes will be located in Vinnytsia, Kyiv and Khmelnytsky regions. Commissioning is scheduled for September 2019.
According to the company, the new elevators will allow Epicenter K to become independent of the market shortage of grain storage capacities and provide grain storage services for other agricultural producers.
Epicenter K cultivates over 111,000 hectares in Vinnytsia, Khmelnytsky, Ternopil, Cherkasy, and Kyiv regions. The group also includes 20 livestock farms.
Epicenter K was created in 2003. The first construction hypermarket of the company was opened in Kyiv in December of the same year.

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TURKISH AIRLINES TO LAUNCH DIRECT BODRUM-KYIV FLIGHT FROM APRIL 6

Turkish Airlines (Turkey) from April 6, 2019 will launch direct regular flights from Bodrum to Kyiv once a week.
“We are pleased to announce the opening of a direct flight on the Bodrum-Kyiv-Bodrum route, which is a popular vacation destination among Ukrainians,” director general of the Turkish Airlines representative office in Kyiv Dincer Sayici said.
Bodrum-Kyiv-Bodrum flights will be operated by the Turkish air carrier once a week on Saturdays with departure from Bodrum at 01:15, from Kyiv at 04:40 local time.
The network of Turkish Airlines routes in Ukraine covers Kyiv, Odesa, Lviv, Kharkiv, Kherson, and Zaporizhia.

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