UDP Renewables, an investment and development company in the field of renewable energy, in a consortium with the Qatari energy company Nebras Power, plans to invest about $ 250 million in “green” energy in Ukraine in 2021-2022, UDP Renewables CEO Serhiy Yevtushenko said.
“he next big step in the life of UDP Renewables and UFuture is the conclusion of an investment agreement with the largest energy company in Qatar, Nebras Power. At the first stage of our strategic partnership, Qataris together with us become shareholders of a large portfolio of operating solar power plants, and then the formation of a consortium for the construction of a whole portfolio of projects in wind energy,” Yevtushenko said on Facebook.
“He noted that the planned volume of investments of the consortium in 2021-2022 could reach $ 250 million, calling it “a good start for a long-term partnership.”
According to him, the signing of contracts by UDP Renewables and Nebras Power during the official visit of Ukrainian President Volodymyr Zelensky to the State of Qatar is proof of the intentions of both states to develop long-term cooperation.
In addition, Yevtushenko noted that with the conclusion of the investment agreement with Nebras Power, the Ukrainian team received another unique experience in structuring and closing a complex international transaction, which had been working on for two years. Everlegal law firm acted as a legal advisor to UDP Renewables.
Ukraine and the World Bank are discussing preparations for the launch of five joint projects, the Finance Ministry said following a video conference between minister Serhiy Marchenko and World Bank Vice President for Europe and Central Asia Anna Bjerde.
“The Finance Minister, together with the World Bank Vice President, discussed plans for cooperation for the near future – preparation for the launch of five new joint projects,” the Finance Ministry said in a release.
According to it, it is planned to submit to the bank board of directors financing for the projects on emergency response to COVID-19 and vaccination in Ukraine, on improvement of higher education in Ukraine for the sake of results, Kyiv urban mobility, on establishment of hybrid systems for production electricity in Ukrhydroenergo and additional financing of the project for access to long-term financing for Ukreximbank.
“At present, the drawdown of the facility within the portfolio of the International Bank for Reconstruction and Development (IBRD) is the highest compared to other international financial institutions – as of January 1, 2021, it amounted to $ 693.55 million, and this is 2.3 times more, than a year earlier,” the ministry said.
In addition, the parties discussed new investment projects for the development of transport infrastructure.
“This year, the implementation of two common road construction projects is coming to an end. That is why we would like to continue successful work in this direction and talk about preparing a new project for Ukravtodor,” the minister said.
National bank of Ukraine’s official rates as of 06/04/21
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of April 06
One troy ounce=31.10 grams
During his visit to Qatar, President of Ukraine Volodymyr Zelensky said that representatives of the financial sector of Qatar are interested in entering the banking market of Ukraine, the presidential press service said.
“Qatar is interested in entering the Ukrainian banking market. We are also interested and offered options. They are choosing,” Zelensky said.
According to Zelensky, “Qatar is interested in investing in the construction of Ukrainian hotels in Kyiv, Kherson and Odesa, as well as in investing in the construction of a ring road around Kyiv.”
“We invited them [Qatar officials] to the infrastructure, because today we are choosing partners with whom to construct the ring road around Kyiv. I would like to construct it fundamental, large, as there are 200 kilometers, including bridges. This is a very expensive work, about $3 billion, so it will be difficult for Ukraine alone to do it. They are also interested in this,” Zelensky said.
The President of Ukraine said, “during the meeting, the discussion was about Qatari investments in the construction of metro and railways in Ukraine.”
Zelensky also said he is expecting specialists from Qatar at the end of the summer to assess Ukrainian cargo and passenger air transportation.
“We are preparing for the opening of our public airlines, our public air carrier. And I communicate with some partner countries, which of them to take with experience and with modern management. In particular, I communicate with Qatar, because Qatar Airways has a very good experience,” the president said.
Avangard agricultural holding, the largest egg producer in Ukraine, cut monthly production by 50% over the past year due to pressure from law enforcement officers, largely due to the impossibility of organizing the export of its products in such conditions, owner of the agricultural holding Oleh Bakhmatiuk has said.
“We now produce 170 million eggs a month, and we produced about 300 million, and in May – 350 million! Of which 170 million were exported in May, and this month we will send for export, maybe 20 million,” he said is in an interview with the Interfax-Ukraine agency.
Bakhmatiuk explained that the company used credit lines for $ 60-70 million for export, since delivery, for example, to Singapore takes 45 days and the supplier needs to be granted a delay.
“But thanks to the valiant actions of the NABU (the National Anti-corruption Bureau of Ukraine), all credit lines were closed to us, we were forced to almost completely close the export direction,” the Avangard owner said, adding that the coronavirus pandemic complicated logistics by making it longer and 30% more expensive.
According to him, out of seven trading houses – in Hong Kong, Singapore, Malaysia, Iraq, Liberia, Saudi Arabia and Dubai, the opening of which took six years and about $ 25-30 million, Avangard retained only one – in Dubai.
Talking about other reasons for the reduction in production, Bakhmatiuk named a painful rise in the price of raw materials, in particular, fat and oil, bagasse and cereals, common for the entire sector.
“This reputational war has been added to the general problems of the sector. In fact, 12 poultry farms have been closed, now the 13th will be closed,” he said, adding that there are 13 operating factories left.
As the businessman noted, such a reduction in production, taking into account fixed costs, led to an increase in the cost of an egg by about 20 kopecks.
Commenting on the rise in egg prices in Ukraine, he called it forced.
“We go to zero profitability and even with a small minus. Because feed prices are growing faster than the demand and the price of eggs are growing,” the businessman explained.
