KYIV. July 26 (Interfax-Ukraine) – PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) will invest $267 million in modernization of production in 2017, company CEO Paramjit Kahlon has told journalists.
According to him, the company works well in Ukraine.
“Over the past year ArcelorMittal Kryvyi Rih has produced 7.5 million tonnes of steel. I can say this company is the most stable for the last 4-5 years. The proximity to the Black Sea makes it unique in terms of a good geographical location. We have large investment plans in Ukraine as for modernization, because this enterprise has not received investments for many years,” he said.
At the same time, among the largest projects the top manager called the construction of a ladle furnace, a coke oven battery, and modernization of production.
“We plan to invest more than $1 billion in modernization in 2017-2020, this year the plan is $267 million,” Kahlon stated.
Concerning the sphere of responsibility in the group, the expert said he is responsible for enterprises in Ukraine and Kazakhstan, sales of products in Africa, sales in the countries of the Persian Gulf, India, Lebanon, Jordan, Israel, Syria, Turkey, for the functioning of the office in Dubai.
KYIV. July 26 (Interfax-Ukraine) – Public joint-stock company Ukrgazvydobuvannia has announced a tender to attract investors to restore production of fossil fuel from over 1,900 liquidated wells of the company on the ProZorro e-procurement system.
According to the conditions of the tender, gas produced from the restored wells and the wells themselves will belong to Ukrgazvydobuvannia, while the investor will receive the fixed fee for each cubic meter of produced gas. It is planned to apply production enhancement contracts (PEC).
The company has negative experience from joint operations when best wells were given to private companies and the state did not receive profit from them. This would not happen with the wells proposed at the tender,” the press service said, citing Ukrgazvydobuvannia Head Oleh Prokhorenko.
Ukrgazvydobuvannia, 100% owned by Naftogaz Ukrainy, is the country’s largest gas producer, providing about 75% of the country’s total gas production.
KYIV. July 25 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) in October 2017 could provide a loan of up to $150 million to public joint-stock company Ukrzaliznytsia to buy gondola cars.
The bank said that the decision could be made on October 18, while earlier the date for the board meeting to discuss the issue was September 20, 2017.
The total cost of the project is estimated at up to $240.7 million, expected to be cofinanced by the company’s own contribution and grant funding of the technical cooperation assignments and grant financing of goals of technical cooperation.
The project is an integral part of the multi-stage program to upgrade rolling stock of Ukrzaliznytsia. The public joint-stock company seeks to buy around 24,000 gondola cars. The company is looking for bank support to partially finance the initial stage of the program, which envisages the purchase of up to 6,500 gondola cars.
Earlier it was planned that the tender to buy these gondola cars will be launched in Q3 2017.
KYIV. July 25 (Interfax-Ukraine) – The Antimonopoly Committee of Ukraine has permitted John Deere International GmbH (Switzerland) and Vaderstad LLC (Zhashkiv, Cherkasy region) to sign an agreement to sell Väderstad agricultural machinery in Ukraine by Vaderstad LLC only via the independent dealer chain of John Deere International, the press service of the committee has reported.
Väderstad is a family firm founded in 1962. Over the period it has grown from the producer of agricultural tools for local farms into a large international company. The company produces sowing machines and tillers.
Väderstad Ukraine is one of the subsidiaries of the company. The company also has subsidiaries in Britain, France, Germany, Poland, Hungary, Estonia, Lithuania, Latvia and Russia.
Vaderstad LLC was registered in Ukraine in 2006.
John Deere is the global leader in agricultural machinery production. A representative office in Ukraine has been operating since 2008.
KYIV. July 25 (Interfax-Ukraine) – The State Property Fund of Ukraine (SPF) has announced the start of auctions to sell shares of eight electricity supply companies and electricity generating companies on exchanges.
“The SPF on July 24 announced the start of auctions to sell shares in eight power companies,” the press service of the fund reported.
According to the document, on August 15, an auction to sell 25% of shares in public joint-stock company Odesaoblenergo on the Ukrainian Exchange will be held (the starting price is UAH 631.3 million).
On August 16, the following auctions will be held: to sell blocking stakes in PJSC Donetskoblenergo on the INNEX stock exchange (the starting price is UAH 143.8 million), PJSC Donbasenergo on the Ukrainian Interbank Currency Exchange (the starting price is UAH 669.2 million), and PJSC Sumyoblenergo on the Perspectiva stock exchange (the starting price is UAH 370.2 million).
On August 17, an auction on the Kyiv International Stock Exchange to sell 25% of shares in PJSC DTEK Dniprooblenergo (the starting price is UAH 728.2 million) and a blocking stake in PJSC DTEK Dniproebergo (the starting price is UAH 728.2 million) will be held.
On August 18, two more auctions will be held: PJSC DTEK Zakhidenergo on the PFTS stock exchange (the starting price is UAH 347.6 million) and PJSC Kyivenergo on the PFTS stock exchange (the starting price is UAH 759.6 million).
KYIV. July 24 (Interfax-Ukraine) – Prime Minister of Ukraine Volodymyr Groysman has supported the offer of the Ukrainian Venture Capital and Private Equity Association (UVCA) to create a “fund of funds” to support Ukrainian start-ups on the terms of public-private partnership, according to the government online portal.
“Prime Minister of Ukraine Volodymyr Groysman advocates the creation of a large fund to support Ukrainian start-ups, which can be financed from the national budget and by large international investors,” the report reads.
According to its data, participants in a meeting on the premier and the members of the UVCA supervisory council noted that investors are interested in investing in a number of industries in Ukraine, in particular the IT sector, cyber security, dual-purpose technologies, and military technologies. Thus, the establishment of the fund could help optimize seeking and inviting large investors.
“The head of government proposed formulating the concept of the fund’s work and combining its activities with the work of the Innovation Council, which will be approved in the near future,” the report says.
Among the participants in the meeting were the head of the UVCA supervisory board, the founder and managing partner of AVentures Capital, Andriy Kolodiuk, the founder and managing partner of Horizon Capital, Lenna Koszarny, and UVCA Executive Director Olha Afanasyeva.
