KYIV. May 4 (Interfax-Ukraine) – U.S. CMC Cometals and Velta LLC (Dnipro) have signed a memorandum of intent to build a mining and beneficiation complex in Kirovohrad region that would produce titanium ores. Investment of around $30 million will be sent to the project.
Velta said in a press release on Wednesday that the document was signed on May 2, 2017.
The framework document envisages that CMC Cometals will be involved in the prefunding of the project to build a mining complex on the Likarivske titanium ore field.
The project is strategic expansion of the Byrzulivske mining complex that has been operating in the region for five years.
“The signed memorandum is a sign of restoration of cooperation between U.S. CMC and Ukraine. The company cooperated with the Ukrainian mining sector over 20 years ago. Despite the risks linked to investing in the country, CMC Cometals and Velta have designed a formula that satisfies each side,” Velta said in the press release.
The next step will be receiving all permits to start construction. Velta has completed exploration of the Likarivske field. The company is designing the project. The annual nominal capacity of the complex is planned at 120,000 tonnes of ilmenite. The new enterprise would create 300-350 jobs.
KYIV. May 4 (Interfax-Ukraine) – The Ministry of Energy and Coal Industry forecasts exports of electricity in May in the amount of 583 million kWh, which is almost 2.1 times more than in May 2016 (282.7 million kWh).
According to the balance of Ukraine’s united energy system for May 2017 posted on the ministry’s website, exports of Ukrainian electricity to Moldova this month could amount to 272 million kWh, to Poland some 141 million kWh, from the Burshtyn Energy Island some 170 million kWh.
In addition, the balance sheet assumes the production of 11.608 billion kWh of electricity in May, including 6.7 billion kWh of power by nuclear power plants (the share is 57.72%), 2.971 billion kWh by thermal power stations (25.59%), 937 million kWh by hydro power plants (including by the feed-in tariff, 8.07%), 150 million kWh by pumped storage hydro power plants (1.29%), 619 million kWh by combined heat and power plants and cogeneration plants (5.33%), 130 million kWh by alternative power sources (solar, wind plants, etc., 1.12%), and 101 million kWh by block stations (0.87%).
Electricity consumption (gross) in May 2017 is expected at 10.8 billion kWh.
KYIV. May 4 (Interfax-Ukraine) – The Individuals’ Deposit Guarantee Fund plans this week to sell the assets of 46 insolvent banks and those being under liquidation for a total of UAH 4.156 billion, according to the fund’s website.
According to its data, of these debt claims on loans are UAH 3.885 billion, the fixed assets of liquidated banks for UAH 260.61 million. Debtor indebtedness to the banks will be sold for UAH 9.79 million.
In particular, the fund will put up for sale debt claims on loans and the fixed assets of Delta Bank for a total of UAH 1.09 billion, PJSC Bank Khreschatyk for UAH 853.9 million, Bank Finance and Credit for UAH 653.28 million.
The fund reported last week it sold the assets of 41 banks being under liquidation for a total of UAH 123.3 million.
KYIV. May 3 (Interfax-Ukraine) – Real wages in Ukraine in March 2017 compared to March 2016 increased by 18.7%, compared to February 2017 by 6.8%, the State Statistics Service has said.
The service said the average nominal wage of a full-time employee rose by 8.7% in March 2017 compared to February 2017, in annual terms rose by 37.2%, to UAH 6,752, whereas in February it stood at UAH 6,209, in January some UAH 6,008, and December some UAH 6,475.
According to the statistics data, the largest increase in the average wage of full-time employees in March this year compared to March 2016 was observed in Ternopil (by 51.8%), Zakarpattia (51.7%), Ivano-Frankivsk (51.2%), Volyn (50.6%), Kirovohrad (50.5%), Chernivtsi (48.4%), Vinnytsia (47.8%), Zhytomyr (47.6%), Kherson (46.9%), Khmelnytsky (45.2%), Sumy (43.7%), Cherkasy (43.5%), Lviv (41.2%) and Kyiv regions (40.5%), and in Kyiv (by 31.6%).
The increase in wages in Donetsk and Luhansk regions (excluding part of the ATO zone) was 16.8% and 32.6% respectively.
The highest level of wages in March was recorded in Kyiv at UAH 11,010, the lowest one in Chernivtsi region at UAH 5,136.
KYIV. May 3 (Interfax-Ukraine) – The Ukrainian representative office of France’s GEFCO Group – GEFCO Ukraine – tentatively saw a 47% rise in turnover in 2016 compared to 2015, to UAH 230 million, GEFCO Ukraine CEO Oksana Yakovleva has said.
“Growth of turnover was 47%, to UAH 230 million. The company managed to double profit, despite the fact that 2014-2015 years were hard for the whole industrial sector of Ukraine, including for GEFCO. Nevertheless, the efforts to diversify our portfolio in 2015 were fruitful in 2016. In 2017 we plan to see at least 20% of growth of turnover. We are trying to grow and expand not only the portfolio of clients, but also attract new clients,” she told reporters in Kyiv on Thursday.
Yakovleva said the company plans to invest in creation of new jobs.
The top manager said that GEFCO Ukraine passed the crisis without workforce reduction.
She said that cargo flows have reoriented in the past three years, as earlier production in the country was mainly focused on the Russian market, and its loss triggered companies to look for new markets.
“Markets of African countries, North and Latin Americas, Kazakhstan, Uzbekistan, Kyrgyzstan and Georgia have been developed. Iran is disburdening from U.S. sanctions. It is also interesting for us, as some Ukrainian manufacturers have started shipments there,” she said.
Automobile products, spare parts, agricultural machinery and FMCG goods have the largest share of the company’s portfolio in Ukraine.
“The share of agricultural products was 10%, as Ukraine is a large exporter of raw materials. In general, we also work with supplies of agricultural machinery and spare parts for it,” Yakovleva said.
The company seeks to climb on the global logistics market in the future.
Commercial Director Andriy Miahkov said that the group also plans to bring its turnover to EUR 8 billion by 2020 from EUR 4.2 billion in 2015.
KYIV. May 3 (Interfax-Ukraine) – Wind Power LLC, part of DTEK Energy Holding, in 2016 saw a net profit of UAH 428.998 million against UAH 1.002 billion of net loss a year earlier.
According to a company report in the information disclosure system of the National Securities and Stock Market Commission, its net income in the reporting period increased by 21%, to UAH 2.037 billion and gross profit rose by 21.3%, to UAH 1.451 billion.
Wind Power operates Ukraine’s largest Botiyevska Wind Power Plant with a capacity of 200 MW. It has projects of construction of two other wind plants at different stages of development.
According to DTEK Director General Maksym Tymchenko, in addition to wind power, the holding intends to invest in construction of solar power plants. The first project will be the construction of a solar power plant with a capacity of 10 MW in Kherson region.
