Business news from Ukraine

Business news from Ukraine

Ukraine expanded list of unreliable investment projects

The National Securities and Stock Market Commission (NSSMC) has added brokerage platform CapitalProf, cryptocurrency exchanges Crypto Lloyds / Crypto Lloyds LTD, IncCrypto, ABNBITFX, RWB Group and seven more cases to the list of questionable investment projects.
As the Commission clarified in a statement on Wednesday, in particular, the list was supplemented by the trading platform Advanced Mining, trading platforms DotBig, ParadTrade and xChief Ltd, RoboForex, Fondexx, as well as Avalon Technologies, a platform that trades IT assets, positioning itself as “one of the fastest growing investment projects in Runet”.
The total number of positions in the list reached 268 investment projects.
Last week, as part of the work to protect the rights of investors, the SECP held an online meeting with specialists from BaFin (German Federal Financial Supervisory Authority). The Commission again reminded potential investors of the significant risks associated with investing: through persons whose activities on the territory of Ukraine are not regulated in any way, as well as persons indicating false information about licensed and allegedly official activities in countries with developed financial markets.

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Zelensky announced availability of substantial amount of funds for current year for all regions of the country under “Made in Ukraine” program

President of Ukraine Volodymyr Zelensky during his working visit to Sumy region took part in the first regional meeting on the new program of economic policy “Made in Ukraine”.

“For the first time held a regional meeting regarding our new program of economic policy “Made in Ukraine”. There is a substantial amount of funds for this year for all regions of our state. Guaranteed for Sumy region as well,” he said in the evening video message.
Thus, according to him, as a result of this meeting, there are already specific tasks for members of the government, the State Property Fund, the Office of the President and regional authorities, and there are signed contracts for the Ukrainian defense-industrial complex.

Zelensky, in particular, said there are new contracts for automated fire-fighting systems, new FPV drones, and simulators for mobile firing teams to help shoot down Shaheds more effectively.

“I am proud that every month more and more companies, more and more developers are offering concrete samples of weapons, shells, equipment, mine clearance vehicles and everything that is needed on the frontline and will save the lives of our people,” he said.

In addition, during his visit to Sumy region, the president held a lengthy coordination meeting on internal security in the region – from shelters to countering crime, and on all defense issues.

“Very substantive. As for the economy and the social situation: now the general task – and the government, and the regional authorities and heads of communities to give every opportunity that here in our Sumy region there were jobs, that social protection worked, that there were reliable revenues to the budget,” – said Zelensky.

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19% of all food in world is wasted – UN

Approximately 1.05 billion tons, or 19% of all food produced in the world, was wasted in 2022, while more than 780 million people continued to struggle with hunger, the UN says.

“In 2022, households on all continents wasted more than 1 billion meals a day, while 783 million people suffered from hunger and a third of the world’s population faced food insecurity,” the report, published on the website of the United Nations Environment Programme (UNEP), says.

According to the report, in 2022, the world produced 1.05 billion tons of food waste, which is 132 kg per capita or almost a fifth of all food available to consumers. Households accounted for 60% of food waste, catering companies for 28%, and retailers for another 12%.

“Food waste is a global tragedy. Today, millions of people are starving while food is simply thrown away,” said UNEP Executive Director Inger Andersen.

“Such waste causes significant damage to the climate and nature,” she added.

According to the UNEP, food waste is responsible for 8-10% of annual global greenhouse gas emissions and significant biodiversity losses.

“The damage to the global economy from food losses and food waste is estimated at about $1 trillion,” UNEP said.

The report emphasizes that as of 2022, only 21 countries have included reducing food loss and food waste in their national climate agenda.

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“Zaporizhstal” completes first stage of overhaul of blast furnace No. 3

Zaporizhstal Iron and Steel Works has completed the first stage of the overhaul of blast furnace No. 3.

According to the company, the repairs were carried out by Metinvest-Promservice specialists.

It is specified that the main task of this stage for the repairmen was to replace the upper gas shut-off valve. It equalizes the pressure between the receiving hopper and the furnace, and it is very important to replace it in a timely manner to ensure that the loading process is safe and uninterrupted.

“The blast furnace is currently operating stably, and meanwhile, specialists are preparing for the second stage of the overhaul, which will begin in April,” the press release states.

As reported earlier, Zaporizhstal doubled its rolled steel output in two months compared to the same period last year, up to 395.3 thousand tons from 196 thousand tons, steel output by 2.25 times to 471.1 thousand tons, and pig iron output by 75.7% to 512.3 thousand tons.

In 2023, the steel plant increased its rolled products output by 57.2% compared to 2022, up to 2 million 54.7 thousand tons, steel by 65.4%, up to 2 million 466.9 thousand tons, and pig iron by 35.3%, up to 2 million 718.9 thousand tons.

“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries of the world.

“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).

Metinvest Holding LLC is the management company of Metinvest Group.

Ukraine to receive EUR 100 mln loan for eRecovery project

Ukraine will receive a EUR100 million loan from the Council of Europe Development Bank for the eRecovery project, said Oleksandr Kubrakov, Deputy Prime Minister for Reconstruction of Ukraine and Minister of Community Development, Territories and Infrastructure.

“Plus EUR 100 million in compensation for destroyed housing from the Council of Europe Development Bank. The relevant decision was made by the Bank’s Administrative Board, and negotiations are underway to sign a Framework Loan Agreement. This amount will be enough to receive more than 2,000 housing certificates for Ukrainians whose homes were destroyed as a result of Russian military aggression,” he wrote on Facebook.

As reported, the Administrative Board of the Council of Europe Development Bank (EBRD) approved the project “NOME. Compensation for Destroyed Property” at a meeting on March 25-26, under which it provided Ukraine with EUR 100 million.

The eRestoration program was launched in Ukraine on May 10, 2023, and owners of damaged housing began receiving compensation of up to UAH 200,000 for repairs. These funds can be used to purchase building materials, pay for construction work and services of contractors who have the appropriate codes to work and whose vendors have applied for participation in the program through the Diia portal. In December, payments for major repairs of damaged residential property were launched – up to a maximum of UAH 350 thousand for an apartment and UAH 500 thousand for a private house. Starting January 1, 2024, Ukrainians who have repaired their homes at their own expense will be eligible to receive compensation for damaged housing.

On August 1, 2023, Diia started accepting applications for compensation for housing destroyed by the war. Compensation will be paid to individual owners of housing that was destroyed due to hostilities after February 24, 2022, cannot be restored and is located in the unoccupied territory and not in the area of active hostilities.

On December 27, 2023, Diia started issuing housing certificates. Since the launch of the state compensation program, more than 11,000 applications have been submitted, and since January, 1637 Ukrainian families have already purchased new homes for a total of UAH 3.4 billion.

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“KAMETSTAL” implements coke oven gas pressure stabilization project to improve energy efficiency

Metinvest Group’s Kametstal plant, which was built at the facilities of Dnipro Metallurgical Plant (DMK, Kamianske, Dnipro region), has implemented an investment project to stabilize coke oven gas pressure in the plant’s system to improve energy efficiency and energy independence.

According to a press release, Kametstal has implemented an investment project aimed at stabilizing coke oven gas pressure in the plant’s system as part of the introduction of modern technologies to improve economic efficiency and energy independence.

At the same time, it is specified that comprehensive tests of the installation of a coke oven gas storage system in gas collectors with the possibility of returning to the plant’s gas system have been completed at the site of the company’s power plant. The project is based on a modern technology for collecting excess coke oven gas that occurs in the network during the coke production process into soft gas holders to use it for the needs of the enterprise.

The infrastructure of the new complex, in addition to the pressure stabilization system equipment site, where two soft gas holders are installed – each with a filling volume of almost 580 cubic meters of gas, also includes a compressor building with two turbochargers for pumping gas and one air compressor, a condensate collection unit, technological networks and other equipment.

It is emphasized that the use of soft synthetic gas collectors is the latest approach to gas storage. Their advantages over metal ones include, first of all, an economical and less labor-intensive installation phase, as well as improved working conditions for personnel during maintenance during operation. The gas storage complex is fully automated and equipped with a preventive process safety system.

“The implementation of this investment project is another step of the enterprise and the company towards the priority goal of stable production. In the future, the coke oven gas storage unit will allow us to use this high-calorie gas more efficiently without losing its excess volumes. This is an opportunity to be more energy independent within the framework of the enterprise’s needs and increase the efficiency of production processes,” explained Mikhail Koptev, Director for Capital Construction and Investments.

“KAMETSTAL was established on the basis of PJSC Dnipro Coke and Chemical Plant (DCKhZ) and Centralized Steel Works of PJSC Dnipro Metallurgical Plant (DMK).

According to the 2020 report of Metinvest Group’s parent company, Metinvest B.V. (Netherlands) owned 100% of the shares in DCCP.

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