Business news from Ukraine

Business news from Ukraine

Ukrainian cement producers ready to work according to European standards – opinion

Ukrainian construction product manufacturers are actively preparing, and some are already ready to work in accordance with EU Regulation 305/2011 on the quality of construction products, Natalia Duzhylova, deputy head of the State Inspectorate for Architecture and Urban Development, told Interfax-Ukraine.

“One of the main issues that needs to be addressed (to work in accordance with European standards) is the lack of a full-fledged quality infrastructure, including a network of testing laboratories equipped with the necessary equipment, which makes it impossible to assess the conformity of construction products. Currently, eight testing laboratories in Ukraine have received the appropriate accreditation, which can provide testing services under Regulation 305 for 16 out of 35 categories of construction products,” she said.

The Deputy Head of the SIAG gave the example of the cement industry, which is fully prepared for the implementation of the C05 Regulation even from January 1, 2024. This fundamental industry is a leader in the implementation of European legislation, and producers are fully prepared to work according to European standards. In particular, the standards have been translated, laboratories are operating, and electronic manufacturer’s accounts in the Unified State Electronic System in the Construction Sector (USESCS) have been set up, where manufacturers upload declarations of conformity for cement products.

As for other building materials industries, most of the standards have already been translated, but in the current economic situation, it is difficult for manufacturers to secure the purchase of new testing equipment for laboratories.

“Some industries have also been actively preparing for industrial visa-free travel in advance. For example, the cable industry had two laboratories fully equipped for accreditation. However, one of them was completely destroyed by the enemy, and the other is located on the temporarily occupied territory,” Duzhylova cited an example.

Investing in laboratory equipment that analyzes the quality of building materials and compliance with standards is a significant investment ($0.5-2 million). There should be at least two laboratories for each type of product: one to test the product and the other to monitor it as needed.

“We are now turning to donors for help. According to the law, the grant recipient can be a public or private institution, or an educational institution, which is also an option. In many European countries, such laboratories are set up on the basis of educational institutions and universities with research centers,” said Duzhylova.

Among the industries that are already actively working with donors on this issue, she named the Window Industry Association. “The Window Industry Association has successfully negotiated with UNIDO and received funding for laboratory equipment. The laboratory in Kryvyi Rih has already received accreditation. The second laboratory will be opened in Rivne in the near future,” said Duzhylova.

As reported, the law “On the provision of construction products on the market”, which ensures the implementation of the provisions of EU Regulation 305/2011 on the quality of construction products in Ukrainian legislation, was adopted in 2020 and entered into force in 2023. Starting from January 1, 2023, all construction products in Ukraine can be put into circulation and made available on the market in accordance with the requirements set out in Regulation 305 and the relevant regulatory technical specifications. Given the martial law and existing administrative and financial barriers, the previous Regulation was extended (CMU Resolution No. 1764 dated 20.12.2006), and until 2025 this Regulation is valid in Ukraine in parallel with the 305th.

“Energoatom” and American Holtec plan to establish joint venture

NNEGC Energoatom and Holtec International plan to establish a joint venture to organize a production complex and a technology center in Ukraine to localize equipment for small modular reactors (SMR) of the American company.

According to NNEGC’s post on Telegram, the facility will house an engineering and design center, storage facilities for materials and component production, as well as training facilities, including an SMR simulator.

The production is expected to create thousands of jobs for qualified Ukrainian personnel.

“The introduction of advanced technologies and the construction of modern Holtec production facilities in Ukraine will be of great importance for the post-war economic recovery of our country. Cooperation with Holtec gives Ukraine the opportunity to become a leader in the global nuclear energy sector,” Energoatom President Petro Kotin was quoted as saying in the statement.

“We believe that Ukraine has demonstrated its ability to build and commission a powerful nuclear facility, despite the continuous barrage of Russian missiles. Therefore, Ukraine’s recovery can begin without waiting for the end of hostilities,” said Holtec President and CEO Dr. Chris Singh.

As reported, in November 2022, Ukraine and the United States announced a project to build an SMR in Ukraine. In addition to generating electricity using SMR and advanced electrolysis technologies, the country also plans to produce pure hydrogen and ammonia.

In April 2023, Energoatom and Holtec signed a cooperation agreement on SMR deployment, which envisages the construction of up to 20 SMR-160 light water reactors, with the implementation of the first pilot project and reaching the minimum regulated reactor power and grid connection by March 2029.

Holtec also announced plans to organize facilities in Ukraine to train personnel, transfer the necessary technologies, manufacture and maintain SMR equipment. “Ukrenergo has already recommended 16 TPP sites where they could be located.

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Spanish investor claims loss of more than UAH 20 mln due to raider takeover of company by its Ukrainian co-founder

Spanish citizen Angel Miguel Cerezo Gallardo estimates losses from the raider takeover by the Ukrainian co-founder of the Selecto Markets company, of which he is a co-founder, at UAH 20 million.

As the Spanish citizen said at a press conference at the Interfax-Ukraine agency on Tuesday, together with Ukrainian partners, he planned to develop a chain of grocery stores in Ukraine with the supply of products from Spain and other European countries, created the Selecto Markets company, invested in first store in Kyiv, delivered equipment and goods.

According to him, one of the co-founders of the company from the Ukrainian side was Maksym Marshchivskyy, who at that time headed the distribution direction in the Furshet retail chain. The co-founders, among other things, planned to supply European products to Ukrainian retail chains, as well as develop their own network of Selecto Markets stores.

However, according to the Spanish investor, Marshchivskyy, without any reason, refused to pay for goods imported from Spain and other European countries by the Spanish businessman’s companies, stopped paying local suppliers, blocked the Spanish partner’s access to the company’s accounts and documents, and also “decided to personally manage the company and re-register for himself.”

In turn, Cerezo Gallardo’s lawyer Hennadiy Borysychev noted that law enforcement agencies “are in no hurry to enter information about criminal offenses under Articles 219 and 191 of the Criminal Code into the unified register of pre-trial investigations, as well as to investigate them.”

“We will have to go to court to declare the investigators’ inaction illegal and in court to oblige law enforcement agencies to initiate criminal proceedings,” he said.

Borysychev clarified that the matter concerns the actual raider takeover of the Selecto Markets company by Marshchivskyy.

The lawyer also noted that, according to information available to Cerezo Gallardo, Marshchivskyy is currently abroad, presumably in the United States.

“Any country that is at war, especially with a nuclear state, is not very attractive for investment. But if you add to this the fact that law enforcement and government agencies cannot protect investors, it can lead to bankruptcy of the state,” he said.

“We want to use the example of this case to prove that justice and law enforcement agencies really work in the country, that it is really possible to invest in our country,” he said.

According to the lawyer, representing the interests of Cerezo Gallardo, he intends to “take other steps to stimulate the investigative authorities in a legal way so that they actually investigate these cases.”

In turn, another co-founder of Selecto Markets, Eugene Zhevagin, said at the press conference that since the start of the full-scale invasion, Cerezo Gallardo “not only did not leave Ukraine, but is actively helping it, supplying humanitarian aid, ambulances, and medicines.”

“He doesn’t just invest money, he helped and is helping everyone who needs it, he believes in Ukraine. We really hope that by making this case public, we will get a positive result,” Zhevagin said.

The Spanish investor contacted the Embassy of the Kingdom of Spain in Ukraine to assist in a fair resolution of the case.

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Ukrainian parliament legalizes medical cannabis

The Verkhovna Rada has legalized medical cannabis and made it possible to use medical preparations containing cannabis (Cannabis) for the treatment of cancer and post-traumatic stress disorder. For the bill № 7457 on regulating the circulation of plants of the genus of hemp (Cannabis) for medical, industrial purposes, scientific and scientific-technical activities to create conditions for expanding access to patients to the necessary treatment of cancer and post-traumatic stress disorder, received as a result of wars, voted as a whole 248 people’s deputies at the plenary session of the Verkhovna Rada on Thursday.

The bill creates regulatory conditions for the legal limited circulation and use of cannabis, its resin, extracts and tinctures for medical, industrial purposes, scientific and scientific-technical activities.

The law comes into force six months after its promulgation.

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Ukraine has received 1.5 bln euros of macrofinancial aid from the European Union

Ukraine has received 1.5 billion euros of macro-financial aid from the European Union, Prime Minister Denis Shmygal said.

“Thus, the total budgetary support from the European Union this year reached 18 billion euros. These funds help us to maintain economic sustainability and fulfill social obligations,” Shmygal wrote in his Telegram channel.

He also thanked the EU for the weighty and timely assistance to Ukraine and expressed hope for further support.

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Ukrainian banks again increased their portfolio of government bonds

The portfolio of domestic government bonds (government bonds) of Ukrainian banks increased by UAH 4.355 billion (by 0.7%) – to UAH 632.116 billion, legal entities – by UAH 2.404 billion (by 1.8%) – to UAH 135.172 billion, individuals – by UAH 0.321 billion (by 0.6%) – to UAH 51.515 billion.

According to the NBU, the total portfolio of government bonds increased by UAH 7.087bn (by 0.5%) – to UAH 1554.292bn from UAH 1547.205bn a day earlier, in the ownership of the National Bank and therobschina remained unchanged, non-residents – changed slightly.

The official exchange rate for December 21 – 37.5516 UAH/$1

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