Business news from Ukraine

UKRHYDROENERGO TO ATTRACT INVESTORS IN BUILDING FIFTH-SEVENTH UNITS AT DNISTROVSKA HYDRO POWER PLANT

KYIV. June 12 (Interfax-Ukraine) – PJSC Ukrhydroenergo plans to attract investors in the construction of the fifth, sixth and seventh hydroelectric units at Dnistrovska pumped storage power plant, company CEO Ihor Syrota has told journalists in Vyshgorod.
“I think we will attract investors in building the fifth, sixth and seventh power units and will not build them for tariff funds. These units can be built simultaneously, the construction period is about 4-5 years,” he said.
Syrota noted the design and capacity of these power units will differ from the first, second, third and fourth ones.
“We are considering other units. If the capacity of the first-fourth power units in a generation mode is 324 MW and in a pumping mode is 421 MW, the new ones will be of 250 MW and 260 MW respectively, which will be economically more profitable. In addition, we want to foresee another range of regulation from 150 MW to 250 MW,” he said.
The head of Ukrhydroenergo expressed confidence that Ukrainian producers will be able to master the production of new hydro power units.

BORSCHAHIVSKY PHARMACEUTICAL PLANT WINS UNDP TENDER TO SUPPLY TWO ANTITUBERCULOUS DRUGS

KYIV. June 12 (Interfax-Ukraine) – PJSC Borschahivsky Chemical and Pharmaceutical Plant has won a tender of the United Nations Development Program (UNDP) for the supply of two antituberculous drugs Rifampicinum and Ethambutolum.
According to a report on the plant’s website, the total cost of medicines is UAH 3.6 million. According to the contract, the plant must deliver the drugs no later than July.
The company said it plans to deliver the drugs prior to the specified date – in June.
“We are convinced that the mechanism of holding tenders through international organizations works. Any pharmaceutical manufacturer that is able to provide high-quality products at an affordable price has a chance to win,” the press service said citing plant commercial director Yevheniy Sova.

TRADE TURNOVER BETWEEN UKRAINE, KAZAKHSTAN INCREASED BY 15-25% SINCE YEAR START – UKRAINIAN AMBASSADOR

ASTANA. June 12 (Interfax-Ukraine) – Since the beginning of 2017, mutual trade between Ukraine and Kazakhstan, depending on the category of goods, has shown an increase of 15-25% compared to the figures for the same period in 2016, Charge d’Affaires of Ukraine to Kazakhstan Volodymyr Dzhydzhora has said.
“Since the beginning of this year we have seen an increase of trade turnover between Ukraine and Kazakhstan over the previous year. This ranges from 15 to 24-25% in different directions,” he told journalists in Astana on Friday.
The diplomat said that in 2016 the total volume of trade in goods and services between Ukraine and Kazakhstan amounted to $926.7 million, which is 21.2% less than in 2015.
According to Dzhydzhora, such a decline in the Ukrainian-Kazakh trade turnover last year was due, in particular, to a decrease in the solvency level of the Kazakh business due to the fall in oil and gas prices, the weakening of the Ukrainian economy in connection with the fighting in Donbas and actions of the Russian Federation within the framework of its “counter-sanctions” because of which the prices for transit services increased.

CHINA’S BOCE COMPLETES PURCHASE OF 99.9% IN UBRD

KYIV. June 12 (Interfax-Ukraine) – The State Property Fund of Ukraine (SPF) and the Chinese commodity exchange Bohai Commodity Exchange (BOCE) have signed an agreement on the sale and purchase of 99.9% of the Ukrainian Bank for Reconstruction and Development (UBRD).
The SPF said on its website after the signing of the agreement on June 8, 2017 BOCE CEO Yan Dongsheng offered the fund signing a memorandum of cooperation.
“Now, when we have a bank, we will work fruitfully to help Ukraine conduct effective privatization and disseminate information about Ukrainian privatization prospects among its customers,” he said.
SPF Head Dmytro Parfenenko noted the fund is considering this project as a pilot one, after which other, equally important projects will be implemented in the framework of further cooperation.
“I am pleased that it was your company that became a partner of the fund. We made a good start for the future. Your experience is very valuable for us,” he said.
BOCE is China’s largest spot commodity exchange, founded by Chinese citizens, several state-owned companies, and the municipality of Tianjin. The exchange was founded in 2009. Its annual turnover is about $1 trillion.

EKOL UKRAINE STARTS SHIPPING TO IRAN

KYIV. June 9 (Interfax-Ukraine) – Ekol Ukraine logistics company has carried out its first transportation to Iran, the company’s press service has reported.
According to the report, the Iranian market is becoming more attractive for Ukrainian businessmen, while Ukraine feels a growing interest from Iran.
Ekol Ukraine made the first shipment to this country for a permanent customer, with whom it actively cooperates in the direction of transportation to Turkey: equipment was delivered to Tehran with the support of colleagues from Ekol Turkey.
“Today Iran looks somewhat exotic for Ekol Ukraine, because our main focus in transportation is concentrated on Turkey and the countries of the European Union. But I am sure that soon enough we will add this country to the list of our traditional routes,” Ekol Ukraine CEO Andriy Holimbovsky said.
Ekol Ukraine provides trucking services inside the country and abroad, carries out customs clearance of goods, provides storage services for goods.
Ekol started working in Ukraine in 2012.
Ekol is an integrated logistics provider, founded in 1990. It has its own distribution centers with more than 750,000 square meters of closed storage facilities in Turkey, Germany, Italy, Greece, France, Ukraine, Bosnia and Herzegovina, Romania, Hungary, Spain, Poland, the Czech Republic, Bulgaria, Iran, and Slovenia. It provides intermodal transportation services thanks to six ferries, 48 route trains and 5,500 vehicles.

UKRAINE EXPORTS ALMOST 41.7 MLN TONNES OF GRAIN SINCE START OF 2016/2017 MY

KYIV. June 9 (Interfax-Ukraine) – Ukraine since the beginning of the 2016/2017 marketing year (MY, July-June) and as of June 8, 2017 had exported 41.667 million tonnes of grain.
According to the Ministry of Agrarian Policy and Food, the country exported about 16.98 million tonnes of wheat, 5.26 million tonnes of barley, and 19.17 million tonnes of corn.
In addition, 365,500 tonnes of flour had been as of the date.
As reported, with reference to the ministry, Ukraine in the 2015/2016 MY (July-June) exported 39.487 million tonnes of grain, which is 13.5% more than in the previous season.