Business news from Ukraine

Business news from Ukraine

BUSINESS INITIATIVES BUYS KOZLIV DISTILLERY AT AUCTION FOR UAH 59 MLN

Kozliv distillery (Ternopil region) of the state-owned enterprise Ukrspyrt at an online auction on Friday, November 13, was acquired by Business Initiatives LLC (Kyiv) for UAH 59 million.
According to the information on the website ProZorro.Sales, the starting price of the distillery was UAH 37.57 million. The facility was put up for auction for the first time. Two companies took part in the auction.
The daily production capacity of the enterprise is 4,200 decaliters of alcohol. It was founded in 1772, and modernized in 2020. Production at the distillery is temporarily suspended.
According to the unified public register of legal entities and private entrepreneurs, Tetiana Maksymova is the ultimate beneficiary of Business Initiatives LLC. The company is engaged in consulting on informatization issues.

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UKRAINE HARVESTS 55.3 MLN TONNES OF GRAIN FROM 90% OF FORECASTED AREA

As of November 12, Ukrainian agricultural producers harvested 75.2 million tonnes of basic crops from an area of 22.8 million hectares, in particular, 57.2 million tonnes of grain and leguminous crops were harvested from an area of about 14.1 million hectares (92% forecast).
According to a report on the website of the Ministry for Development of Economy, Trade and Agriculture, 21.4 million tonnes of corn was harvested from an area of 4.3 million hectares (78%), 12.9 million tonnes of sunflower from 6.3 million hectares (99%), 2.6 million tonnes of soybeans from 1.3 million hectares (94%), 241,700 tonnes of millet from 148,600 hectares (99%) and 104,700 tonnes of buckwheat from 77,800 hectares (99%).
Some 6.7 million tonnes of sugar beet was dug from an area of 161,600 hectares (75%).
As reported, the Economy Ministry predicted the grain harvest in 2020 at 68 million tonnes. Of the early grains, the following have already been threshed: 25.1 million tonnes of wheat from an area of 6.6 million hectares; 7.8 million tonnes of barley from 2.4 million hectares; 516,200 tonnes of peas from 238,000 hectares; 2.56 million tonnes of rapeseed from 1.1 million hectares.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 16/11/20

National bank of Ukraine’s official rates as of 16/11/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF NOVEMBER 16

Official rates of banking metals from national bank as of November 16

One troy ounce=31.10 grams

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UKRAINE’S METALLURGICAL ENTERPRISES RAISE USE OF GAS%, DECREASE ELECTRICITY

The metallurgical enterprises of Ukraine in January-October this year increased consumption of natural gas by 1% compared to the same period last year, to 1.55 billion cubic meters.
According to the information of the Ukrmetalurgprom association, electricity consumption by metallurgical enterprises during this period amounted to about 9.12 billion kWh (96% compared to January-October 2019).
As reported, Ukrainian metallurgical enterprises in 2019 reduced natural gas consumption by 2% compared to 2018, to 1.8 billion cubic meters. Electricity consumption

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UKRENERGO BEGINS RECONSTRUCTION OF SUBSTATIONS IN WESTERN UKRAINE

National Energy Company Ukrenergo began reconstruction of six substations in the western region of the country׃ Ivano-Frankivsk, Bohorodchany, Rivne and Kovel with a voltage of 330 kV, as well as Kalush and Boryslav with a voltage of 220 kV for the funds of the International Bank for Reconstruction and Development (IBRD) with a total of EUR 60 million.
According to the press service of Ukrenergo, the implementation of this project will enable to increase the reliability of the region’s transmission system, reduce technological losses of electricity and operating costs, transfer substations to automated work with the possibility of remote control from the main dispatch center.
“The reconstruction of these substations is financed by the International Bank for Reconstruction and Development within the framework of the Second Power Transmission Project. It should be noted that this is an additional component of the project, the implementation of which became possible due to significant savings achieved during the international public bidding for the basic volume of the project,” Investment Director of Ukrenergo Oleh Pavlenko said.
Reconstruction of six substations provides, in particular, the complete replacement of 330-110 kV switchgears at all substations, the installation of an automated process control system (APCS) for remote monitoring and control of substation equipment, the construction of new premises for relay protection of equipment and general control points of a substation.
As part of the work, contracts were signed with three foreign companies: Chinese-based Xian Electric Engineering Co. Ltd, the Turkish consortium Balikesir Elektromekanik Sanayi Tesisleri A.S. and BEST Elektrik Taahhut Ve Ticaret A.S., as well as with the Kazakh ASPMK-519.
The work is being carried out within the framework of a comprehensive substation automation program, which provides for the reconstruction of all Ukrenergo substations with the introduction of automated process control systems.
The program is aimed at improving the reliability of the power transmission system, creating a technical base for introducing smart grid technology in backbone networks, ensuring the level of reliability and security of the network in accordance with the ENTSO-E requirements.
At the first stage, 57 substations will be reconstructed by 2025, which are formed into nine investment packages. Four more investment packages provide for the reconstruction of 38 substations.

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