Canada’s Brookfield & Partners has headed a consortium of investors who joined a project to build a first stage of Innovation District IT Park in Lviv with gross area of 10 ha. The cost of the project is $160 million. An Interfax-Ukraine correspondent has reported that investors jointly with Canadian ambassador to Ukraine Roman Waschuk, Lviv Mayor Andriy Sadovy and Lviv IT Cluster representatives, who would be the future tenants of the park, took part in the groundbreaking ceremony.
Founding Partner & CEO of Horizon Capital Lenna Koszarny told Interfax-Ukraine that the funds managed by Horizon Capital are among consortium investors.
She said that a design company has been created. It owns a part of the land parcel where the project will be implemented.
Developer and investor of Innovation District IT Park, owner of Galereja Centre Volodymyr Zhenchak said that in coming months the design company plans to buy the rest of land parcels for the project. Today these parcels are leased. He also said that leasing arrangements for over a half of the area of the IT park have been made with the future tenants of the park.
He said that it would take two and a half years to build the first stage of the park.
Zhenchak also said that negotiations on lending by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are underway. Representatives of the two international institutions were present at the groundbreaking ceremony.
He said that the first stage would be over 160,000 square meters, although it is incorrect to assess the project only in terms of square meters.
“How could 3 ha of green areas be assessed? The main thing is that the project would give 14,000 jobs,” he said. The shares of the current participants of the project are not disclosed.
As reported, the IT Park will occupy 10 hectares between Stryiska, Chmoly, Luhanska and Kozelnytska Streets in Lviv. The construction of the first stage of the IT Park will last about 2.5 years, which will cover about 90% of the entire project, and the first round of investment will reach $95 million. The second stage of the IT Park provides for the construction of business centers and will last about five or six years. Six eight-storey Class A office buildings, three business centers, a hotel (5,700 square meters, 150-200 rooms), a kindergarten (2,000 square meters), a university (6,000 square meters), a health club, and a parking lot for 3,167 cars are to be built under the project.
SoftServe, N-iX, GlobalLogic, Intellias and Perfectial will be first residents of the Innovation District IT Park. They will occupy about 50,000 square meters of office space. The university block will house a department of Lviv’s Ukrainian Catholic University.
In addition, Lviv IT Cluster plans to open modern IT labs there that will be available to IT students of all Lviv-based universities.
Brookfield Asset Management is the largest Canadian investment company with widely diverse asset portfolio and a 115 year-long history. The company specializes in infrastructure and real estate operations, renewable energy, and direct investments.
Lviv IT Cluster is a community of IT companies in Lviv.
Galereja Centrе, created in 2001, is a private investment and development company that implements commercial real estate projects in Lviv and the Western region.
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Public joint-stock company Odesa Port-Side Plant until July 12, 2018 accept applications for selecting a new partner for processing gas into mineral fertilizers on a tolling basis. “We invite interested companies to send their bids, meeting the mandatory conditions regarding the processing of tolling natural gas at the plant until 16:00 Kyiv time on July 12, 2018,” the enterprise said on its website.
First Deputy Director Mykola Schurikov said that if it is necessary to conduct preliminary negotiations, it is possible to organize working meetings with the management of the enterprise.
As reported, All-Ukrainian Energy Company won a tender to use the facilities of Odesa Port-Side Plant for processing gas into mineral fertilizers on a tolling basis in December 2017.
However, on April 30, 2018, the plant was stopped, as the company violated the contract with Ukrtransgaz.
Schurikov said that the plant in two months of cooperation with All-Ukrainian Energy Company received over UAH 140 million and saw no losses.
Odesa Port-Side Plant refers to work on a tolling basis as the only possible option for resuming its operation in the conditions of a failure of privatization attempts and accumulated debt for gas to Naftogaz Ukrainy, which exceed UAH 1.5 billion.
The State Property Fund this week announced a tender to select an adviser for another attempt to privatize the plant and solve the problem of its debts to Naftogaz and Ostchem belonged to Dmytro Firtash. The adviser is given up to six months to find a way out of the situation.
General Electric (GE) has signed a contract with DTEK to supply high-voltage equipment for the 150 kV central power distribution station and two 150/35/10 kV substations, which would ensure the transmission of electricity from the first stage of Prymorska wind farm (Zaporizhia region) to the Ukrainian power grid, the press service of the Ukrainian energy holding has reported.
“The innovative technology “digital substation” will be used at the wind farm… The digital substation technology allows making real-time assessment of the state of equipment and automatically reacting to deterioration or malfunctions. This relaxes maintenance of the substation, implementing it as soon as the event occurs and without scheduling repairs,” DTEK said.
As reported, GE Renewable Energy will supply 26 wind turbines with a capacity of 3 MW each for the first stage of Prymorska wind farm and maintain them after the delivery. The turbines will be delivered to Ukraine and installed in 2018. The first stage would be launched in 2019.
DTEK was established in 2005 to manage the energy assets of System Capital Management Group (SCM, Donetsk) belonging to Rinat Akhmetov.
S&P Global Ratings has raised its long-term national scale ratings on Ukraine to ‘uaBBB’ from ‘uaBBB-‘ and removed the UCO designation from the ratings.
“Our global scale issuer and issue credit ratings on Ukraine are not affected by today’s rating action,” S&P said.
On April 20, 2018, S&P Global Ratings affirmed its ‘B-/B’ long- and short-termforeign and local currency sovereign credit ratings on Ukraine. The outlook is stable.
According to the report, the next scheduled rating publication on Ukraine will be on Oct. 19, 2018.
S&P recalled that National scale ratings express its opinion of the creditworthiness of an issuer or a debt instrument relative to other issuers and issues in a given country. The purpose is to provide a rank-ordering of credit risk within the country.
