Business news from Ukraine

HIGH-SPEED RAIL TRAFFIC TO 250 KM/H BETWEEN KYIV, ODESA AND LVIV WILL COST $16 BLN

PJSC Ukrzaliznytsia estimates the cost of implementing high-speed rail service of up to 250 km/h between Kyiv, Odesa and Lviv via Vinnytsia at $16 billion, the director for strategic development and investment policy at Ukrzaliznytsia, Anton Sabolevsky, has told Interfax-Ukraine. “Within the framework of the working group on the introduction of high-speed rail traffic, we estimated how much the construction of infrastructure for organization of high-speed communication between Kyiv, Odesa and Lviv via Vinnytsia could cost in principle. To build this infrastructure, about $16 billion is needed, taking into account the acquisition of appropriate rolling stock, its service centers and management,” he said.
At the same time, he noted Ukrzaliznytsia has not calculated the cost of high-speed communication between all the regional centers of Ukraine, since the implementation of such a project goes beyond the long-term planning and can be carried out exclusively in stages.
According to him, the work on implementing the infrastructure project for organization of high-speed rail service along the Kyiv-Kharkiv route could take at least ten years.

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ALFA INSURANCE INCREASES PREMIUM COLLECTION BY 26% IN Q1

Alfa Insurance (Kyiv) in January-March 2018 increased premium collection by 26%, to UAH 151.7 million, according to the website of the insurer. It is also noted that premiums for voluntary insurance of cargo and baggage increased by 80%, accident insurance by 67%, voluntary medical insurance by 56%. Alfa Insurance was founded in 2000. It specializes in risk types of insurance. It is represented in all regions of Ukraine. The charter capital of the company is UAH 103.48 million.

MINISTRY OF INFRASTRUCTURE WILL PROPOSE GOVERNMENT TO COMPENSATE INVESTMENTS IN SEAPORTS

The Ministry of Infrastructure of Ukraine in the near future might submit a draft resolution on compensation of investments in the port industry to the Cabinet of Ministers for consideration, Deputy Prime Minister Volodymyr Kistion has said. “We are talking about compensation of investments in the port industry of Ukraine, legalization of objects of port infrastructure that are not registered for objective reasons, both public and private,” he said at the Ukrainian Ports Forum 2018 in Odesa. In addition, the official expressed confidence that the ministry will soon complete the development of a new methodology for calculating port dues, as well as preparation of other legislative acts that will promote the development and modernization of seaports and will further provide opportunities to reduce port rates. At the same time, Kistion noted that since the beginning of the year the government has reduced port rates by 20%.

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ENERGOATOM PLANS TO COOPERATE WITH WESTINGHOUSE IN 2019-2021

National Nuclear Generating Company Energoatom plans to fully load Westinghouse fuel to four reactors of Zaporizhia nuclear power plant (NPP) in 2019-2021, the press service of the company reported after a meeting of the panel for the installation of Westinghouse fuel assemblies at Ukrainian NPPs. It is planned that in 2019-2021, the active zones of the first, third, fourth and fifth reactors of Zaporizhia NPP will completely have U.S. nuclear fuel. The second and sixth reactors of Zaporizhia NPP are planned to continue to be operated using only Russian nuclear fuel,” the press service said.
The press service said that in 2016, Westinghouse nuclear fuel (one fourth of the total volume, three fourth was the Russian fuel) was loaded into the active zone of the fifth reactor of Zaporizhia NPP. In June 2017, another batch of Westinghouse fuel was added to this reactor, after which its quantity in the active zone reached a half.
In September-October 2017, Westinghouse fuel (one fourth of the total volume for each reactor) was loaded into the active zones of the first, third and fourth reactors of Zaporizhia NPP.
According to the company’s plans, in 2018 it is planned to increase the loading of Westinghouse fuel to the core of the fifth reactor with to three fourth of the total volume, and the first and third reactors to a half. Loading of the next batch of Westinghouse fuel into the active zone of the fourth reactor of Zaporizhia NPP is planned for 2019 in connection with the performance of works to extend the life of this facility.

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