Business news from Ukraine

Business news from Ukraine

UKRAINE ALREADY PRODUCES MORE THAN 200,000 TONNES OF SUGAR

Sugar production in Ukraine as of October 16, 2020 amounted to 211,600 tonnes.
According to a report on the website of the Ukrtsukor National Association of Sugar Producers, as of that date, 26 sugar factories were operating in the country, which have processed 1.6 million tonnes of sugar beets.
As reported with reference to Ukrtsukor, the sugar beet processing season in Ukraine started on September 5.
Sugar production in the country in 2020 is projected at 1.2 million tonnes, which is 15% less than a year earlier. It is expected that 33 sugar factories will operate this season, at the level of last year.
According to the State Statistics Service, in 2020 areas under sugar beets amounted to 218,900 hectares, at the level of the last year.

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UKRAINE AND TURKEY PLAN TO INCREASE TURKISH INVESTMENTS IN INFRASTRUCTURAL PROJECTS IN UKRAINE

Ukraine and Turkey intend to continue cooperation in order to increase Turkish investments in the implementation of infrastructure projects in Ukraine, taking into account the opportunities provided by the Big Construction program in Ukraine.
“We note the importance of the early completion of negotiations on the Free Trade Agreement between Ukraine and the Republic of Turkey. We emphasize the need to intensify cooperation within the framework of the Intergovernmental Commission on Trade and Economic Cooperation,” Presidents of Ukraine and Turkey Volodymyr Zelensky and Recep Tayyip Erdoğan said in the joint statement, following their meeting in Istanbul on October 16.
Turkey welcomes Ukraine’s intention to join in observer status in the Organization of Islamic Cooperation, and also notes Ukraine’s interest in cooperation with the Turkic Council.
The heads of state also agreed to work towards holding the Year of Ukraine in Turkey and the Year of Turkey in Ukraine, which will further deepen cultural and humanitarian cooperation and interpersonal contacts between the countries.

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UKRAINE’S METALLURGICAL ENTERPRISES REDUCE GAS AND ELECTRICITY CONSUMPTION

Metallurgical enterprises of Ukraine reduced the consumption of natural gas by 1% in January-September this year compared to the same period last year, which accounted for 1.39 billion cubic meters.
According to the information from the Ukrmetalurgprom association, electricity consumption by metallurgical enterprises amounted to about 8.22 billion kWh for this period (95% compared to January-September in 2019).
As reported, Ukrainian metallurgical enterprises reduced consumption of natural gas by 2% in 2019 compared to 2018, which accounted for 1.8 billion cubic meters. Electricity consumption by metallurgical enterprises amounted to about 11.2 billion kWh in 2019 (95% compared to 2018).
In 2018, metallurgical enterprises, including those in the temporarily uncontrolled territory reduced consumption of natural gas by 4% compared to 2017, but increased it by 4% without the uncontrolled territory, which accounted for 1.840 billion cubic meters. Electricity consumption by metallurgical enterprises amounted to 11.76 billion kWh in 2018 (102% of the consumption in 2017 with uncontrolled territory, and 106% without it).

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KPMG TO PREPARE BILSHOVYK PLANT IN UKRAINE FOR PRIVATIZATION

KPMG Ukraine consulting firm has won the tender for the selection of an advisor for the preparation for privatization and sale of 100% of the charter capital of JSC First Kyiv Machine Building Plant (formerly Plant Bilshovyk, Kyiv), the press service of the State Property Fund of Ukraine (SPF) has told Interfax-Ukraine.
“The winner was KPMG Ukraine. There were three applications in total. KPMG won, as it scored the most points. The agreement with KPMG has already been signed. Documents are being prepared for the approval of the privatization adviser by the Cabinet of Ministers,” the press service told the agency.
As reported, at the end of September 2020, Head of the State Property Fund Dmytro Sennychenko said that Bilshovyk Plant was included in the list of objects for privatization formed by the fund for next year.
According to the information on the SPF’s website, the tender for the selection of a privatization adviser was announced in August this year. At the same time, the tender committee made a number of decisions for the successful privatization of this asset.
“Despite resistance, attempts to alienate property by raider methods and political pressure, we are moving privatization forward. At a transparent tender, an advisor will be selected who will qualitatively prepare the privatization object to attract an investor,” Sennychenko said.

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UKRAINIAN MINISTRY OF INFRASTRUCTURE MULLING SEVERAL OPTIONS FOR COOPERATION WITH FOREIGN PARTNERS

The Ministry of Infrastructure is mulling several options for cooperation with foreign partners on the project for building high-speed railways, according to the ministry’s website.
Infrastructure Minister of Ukraine Vladyslav Krykliy on October 16 met with the director of the Hyundai Corporation representative office in Ukraine. First Deputy Minister Dmytro Abramovych also took part in the meeting.
Krykliy noted that Ukraine is interested in cooperation with Hyundai Corporation.
“The selection of a partner for the implementation of the project for construction of high-speed railways will be carried out on the basis of analysis of the proposed conditions, which should be beneficial for Ukraine. The project requires an integrated approach, in particular, in terms of financing, timing of implementation, the possibility of preparing a feasibility study using grant funds, etc.,” the ministry said.
During the meeting, the director of the Ukrainian representative office of Hyundai Corporation announced his interest in the implementation of infrastructure projects in Ukraine.
During the meeting, the parties also discussed the use of rolling stock on high-speed railways and models for financing infrastructure projects.

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TOP 20 COUNTRIES OF UKRAINE’S FOREIGN TRADE PARTNERS IN JAN-JULY OF 2020 (THOUSAND USD)

Top 20 countries of Ukraine’s foreign trade partners in Jan-July of 2020 (thousand USD).

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