The European Bank for Reconstruction and Development (EBRD) on December 1 approved the allocation of up to EUR 25 million to Pravex Bank (Kyiv) under the guarantee of the parent company Intesa Sanpaolo S.p.A. (Italy) to finance small and medium-sized enterprises (SMEs).
“The project will support Pravex Bank to sustain portfolio growth at least in line with the market. The proposed project will channel much-needed funding support to real-economy clients helping to mitigate the economic consequences of the pandemic crisis,” the EBRD said on its website.
This crisis response project is aimed to bridge a liquidity gap due to adverse market conditions related to COVID-19 crisis, the press release reads.
Ukrzaliznytsia plans to receive UAH 17.6 billion in revenue from freight traffic in October-December 2020, which is 7.98% more than in the previous quarter.
This is a record quarterly indicator of financial receipts this year from the main business of the company, Ukrzaliznytsia said.
So, in the first quarter of this year, Ukrzaliznytsia’s income from freight traffic amounted to UAH 16.6 billion, in the second – UAH 14.6 billion, and in the third – UAH 16.3 billion.
“Ukrzaliznytsia will be able to achieve a record level of income in the fourth quarter due to increased efficiency of the company’s operating activities, liquidation of the locomotive shortage, improved dispatching and fruitful cooperation with all participants in the transportation process,” the message says.
The company also clarified that in September 2020, the company’s income from domestic freight rail transportation increased by 6% compared to the same period in 2019 – up to UAH 2.1 billion, and in October – by 3.2% against October 2019 and amounted to UAH 2.2 billion.
National bank of Ukraine’s official rates as of 07/12/20
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of December 07
One troy ounce=31.10 grams
Since the beginning of the new 2020/2021 marketing year (MY, July-June) and as of December 4, Ukraine has exported 22.12 million tonnes of cereals and legumes, which is 3.4 million tonnes less than on the same date last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, 12.02 million tonnes of wheat (-1.6 million tonnes), 3.71 million tonnes of barley (+0.2 million tonnes) and 6.03 million tonnes of corn (-2.1 million tonnes) have been exported to date.
As of December 4 of this year, 70,300 tonnes of flour were also exported.
As reported, Ukraine exported a record 57.2 million tonnes of grains, legumes and flour in 2019/2020 MY, which is 13.5% more than in the previous MY.
Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in January-September 2020 reduced capital investments by 40% compared to the same period in 2019 – to $460 million.
Investment cuts were planned, according to Thursday’s preliminary unaudited interim financial results for the nine months of 2020.
“In line with the Group’s 2020 CAPEX priorities for critical asset maintenance and the completion of ongoing strategic investment projects, investments in maintenance and repairs decreased by 39%, while investments in strategic projects were reduced by 43%, which brought their share in the total volume of capital investments to 67% and 33%, respectively, in January-September 2020 (65% and 35% in the nine months of 2019),” the report says.
At the same time, it is noted that Metinvest has made progress in the following key strategic projects: modernization of the 1700 mill at the Mariupol-based Illich Iron and Steel Works (equipment tests are ongoing; a new coiler was installed and the production of the first coils was carried out in November 2020); construction of an air separation unit at the Illich plant; modernization of concentrating equipment at Central Mining and Processing Plant (MPP) (completed in March 2020); construction of a cyclic-flow technology at the Northern MPP (the second stage for transporting rocks) and Inhulets Mining (InGOK, Kryvyi Rih, Dnipropetrovsk region) (Skhidny tract); and completion of the first stage of modernization of the OK-306 roasting machine at Pivnichny MPP.
“A special priority in 2020 is given to the environmental agenda, in which the main current project is the reconstruction of the sinter plant at the Illich plant, which is expected to be completed next year. Many other initiatives have also advanced this year, including the reconstruction of the gas treatment facilities of the casting yard and the bunker rack of blast furnaces. No. 3 at the Illich plant (completed in March 2020) and converters No. 1 and No. 2 at the Azovstal Iron and Steel Works (basic and detailed engineering and technical documentation is being developed),” the document says.
