Business news from Ukraine

UKRAINE SEES 40.5% RISE IN SUGAR PRODUCTION IN 2016/17 AGRI-YEAR – UKRTSUKOR

KYIV. Jan 13 (Interfax-Ukraine) – Sugar production in Ukraine in 2016/17 agricultural year (September-August) increased by 40.5%, to 2.008 million tonnes compared to the previous season, the national sugar producers association Ukrtsukor has said.

According to the report, 42 sugar refineries refined 13.66 million tonnes of sugar beets.

The association said that this year was favorable for Ukrainian sugar producers. Due to bad harvest in Brazil and India and the favorable situation on the global market, Ukrainian producers managed to supply almost 470,000 tonnes of sugar to foreign markets, mainly to Sri Lanka, Georgia and Tunisia.

“Taking this into consideration, according to our projections areas planted with beets would expand in 2017 and the share of sugar beets of total planted areas would return to the previous indicators. There is confirmed information from large producers that areas planted with sugar beets are expanded,” the association said.

As reported, referring to Ukrtsukor, Ukraine in 2015/16 agri-year exported 113,000 tonnes of sugar and this was 3% more than a year ago.

GERMANY’S ANDRITZ HYDRO TO RECONSTRUCT THREE UNITS AT DNIPROVSKA HPP, TURBOATOM THREE UNITS AT KYIVSKA HPP

KYIV. Jan 13 (Interfax-Ukraine) – PJSC Ukrhydroenergo on December 23 signed an agreement with Germany’s Andritz Hydro for the reconstruction of three units at Dniprovska hydropower plant for EUR53.59 million and UAH 151.451 million (including VAT), the press service of the Ukrainian company has said.

In addition, on December 30 Ukrhydroenergo signed a contract with PJSC Turboatom for the reconstruction of three units at Kyivska hydroelectric power plant (HPP) for UAH 562.431 million (including VAT).

The work under both contracts is to be completed in 2021.

The reconstruction is carried out in the framework of the third phase of the Rehabilitation of HPP joint project with the EBRD and the EIB. Contractors were selected during two-stage international competitive bidding.

The EBRD and the EIB plan to issue EUR 200 million each for the project.

KYIV TO PRESENT REAL ESTATE INVESTMENT PROJECTS AT MIPIM 2017 EXHIBITION IN CANNES

KYIV. Jan 13 (Interfax-Ukraine) – Real estate investment projects of Kyiv City will be exhibited at the MIPIM, the premier real estate event to be held on March 14 through March 17 in Cannes (France), Kyiv City Administration reported on Thursday.

“This year the city is preparing own stand of 37.64 square meters. The most interesting and promising real estate investment projects of Kyiv and leading developing companies will be presented there,” the administration said. URE Club (Kyiv) is designing the program and providing media support for Kyiv’s participation in MIPIM 2017.

Around 5,000 international investors will be able to study the real estate investment projects of Kyiv. This would help to form the positive investment image of Kyiv and attract additional investment to the real estate sphere of the city.

MIPIM presents all market segments: office, residential, tourist, hotel, commercial, logistics real estate and infrastructure projects.

Kyiv participates in the MIPIM exhibitions since 2005.

NAFTOGAZVYDOBUVANNIA POSTS 25% RISE IN GAS PRODUCTION IN 2016

KYIV. Jan 13 (Interfax-Ukraine) – Private joint-stock company Naftogazvydobuvannia, part of DTEK Naftogaz, increased natural gas production by 25.3% or 328.8 million cubic meters (mcm) compared to 2015, to 1.631 billion cubic meters (bcm), the company’s press service has reported.

Gas condensate production in 2016 totaled 56,100 tonnes, and this was 24% up on 2015.

The launch of three wells at the Semyrenkivske gas condensate field contributed to growth of gas and gas condensate production. Workover was carried out at four wells of the field

In addition, measures to intensify production at operating wells were conducted last year.

As reported, Naftogazvydobuvannia in 2015 increased gas production by 1.7 times compared to 2014, to 1.302 bcm and gas condensate – by almost 1.6 times, to 45,000 tonnes.

NIBULON SHIPYARD TO BUILD FOUR VESSELS BY END OF 2016/2017 MY

KYIV. Jan 12 (Interfax-Ukraine) – Nibulon Shipyard (Mykolaiv) will build a non-self-propelled B2000 vessel and three tugboats by the end of the 2016/2017 marketing year (MY, July-June).

According to a report on the website of the Nibulon agricultural enterprise, after that the company’s fleet will increase to 59 units.

Nibulon is implementing own shipbuilding program in cooperation with the European Investment Bank (EIB).

In 2017, Nibulon shipyard in cooperation with the EIB will complete the building of a series of non-self-propelled B2000 ships, launch a new Mykolayevets dredger.

“Due to this operation with the EIB, 100% load of the factory is scheduled for two years in advance,” the report reads.

Nibulon was created in 1991. It is one of the largest operators in the grain market of the country. It has elevators with a total capacity of about 2 million tonnes, as well as its own transshipment terminal of 5 million tonnes in Mykolaiv.