Business news from Ukraine

Business news from Ukraine

UFUTURE GROUP OF BUSINESSMAN VASYL KHMELNYTSKY PLANS TO BUILD TWO WIND FARMS IN UKRAINE

UDP Renewables, responsible for development of projects in the renewable energy sphere of the UFuture Group of businessman Vasyl Khmelnytsky, plans to implement two projects in the wind energy sphere and retains plans to build solar power plants with a total power capacity of 200 MW. “We are considering two projects that we will implement in the wind energy sector. In the future, I will tell you more specifically when we start building,” Khmelnytsky said in a blitz interview with Interfax-Ukraine.
In addition, according to him, the company maintains plans to build energy projects with a total capacity of 200 MW in Ukraine for 2018-2019, but further plans for the development of these projects will depend on the feed-in tariff.
“We do not change the plan now. We want to build 200 MW. Today we are building 100 MW. That is, we are continuing as planned: we are building five projects in Odesa, Zaporizhia, Kherson and other regions,” the businessman said.
Partners in these projects, in addition to Spain’s Acciona Energia Global, are Slovak and Ukrainian companies.
Earlier UDP Renewables announced its plans to implement energy projects with a capacity of 200 MW in southern regions of Ukraine in 2018-2019. There are two launched solar power plants: Dymerska Solar Power Plant 1 in Kyiv region with a capacity of 6 MW and Free-Energy-Henichesk solar power plant with a capacity of 18.3 MW in Kherson region.
UFuture Investment Group, headquartered in Brussels, was established in autumn 2017 and united the business projects of Khmelnytsky. The group includes the Ukrainian development company UDP, whose specialization is the implementation of large infrastructure projects. In addition, the conglomerate united businesses in such areas as UDP Renewables, the Bila Tserkva industrial park, the innovation parks UNIT.City, and LvivTech.City.

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LARGE COMPANY OF LIGHT INDUSTRY MARKET PLANS TO BRING NEW FABRIC FACTORY IN UKRAINE TO PROJECTED CAPACITY

The Textile-Kontakt Group, a large retail and industrial groups on the light industry market in Ukraine, approximately in April seeks to bring the new fabric factory to the projected capacity of 200,000 linear meters a month. “At present, production has been stared and being tested,” the press service of the group told Interfax-Ukraine. Almost UAH 53 million was invested in the new production site in 2018, and in 2019 it is planned to invest some UAH 100 million.
As reported, in September 2018, the group began repairing workshops with a total area of 3,500 square meters and installation of new equipment. The capacity of the plant will be 2-3 million meters of fabric per year.
According to the press service of the company, customers of fabrics are mainly EU countries, in particular, Germany and France.
The payback period of investment, according to pessimistic forecasts, is from seven to eight years.
“I was here in November, the dismantling of old equipment continued. The state of the enterprise was more like a dump. We repaired and restored the old equipment, which is now ready for operation. Also, eight trucks with Italian production lines are about to arrive at the site,” the press service said, citing the founder of the Textile-Kontakt holding Oleksandr Sokolovsky.
Textile-Kontakt was founded in 1995 and today represents a holding company that combines various areas of assets: wholesale and retail trade, the import of fabrics, accessories and home textiles, as well as tailoring of special clothing (including military uniforms).

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UKRTELECOM CONNECTS ABOUT 60 TOWNS AND VILLAGES TO INTERNET IN 2018

PJSC Ukrtelecom continued expanding the geography of Internet coverage in 2018 and connected almost 60 Ukrainian towns and villages to the Internet, according to the operator’s website.
“In 2018, access to the World Wide Web became available to residents of almost 60 other settlements. Of them, broadband access services based on GPON [Gigabit Passive Optical Network] technology became available in 44 settlements whose residents can use high-speed Internet services,” the operator said.
In 151 towns and urban-type settlements, Ukrtelecom subscribers who used ADSL technology were offered to connect to an optical network using FTTB technology.
Now the operator provides Internet access in almost 2,260 cities, towns and villages in Ukraine.
As was reported, Ukrtelecom in January-September 2018 posted about UAH 449 million in net profit, which was 29.62% down on the same period of 2017 (UAH 638 million).
Ukrtelecom is Ukraine’s largest fixed-line operator. It is the only founder and participant of LLC 3Mob, a 3G / UMTS mobile operator.

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UKRENERGO TRANSFERRED UNDER FINANCE MINISTRY’S CONTROL

The Ministry of Finance of Ukraine has been authorized to manage national energy company Ukrenergo, the ministry’s press service has said.
A corresponding acceptance statement was signed on February 4 by the commission created by the ministry on the transfer of the company’s property and assets.
“After the signing of the document, Ukrenergo was transferred from the Ministry of Energy and Coal Industry to the Ministry of Finance,” it said.
Strategic management and control over the activities of Ukrenergo will be carried out by the supervisory board of the company, which, as reported, chaired by ex-head of the EBRD representative office in Ukraine Sevki Acuner. Earlier, a number of independent members with international experience in the field of energy, as well as state representatives entered the supervisory board.
“The Finance Ministry’s task is to accelerate Ukrenergo’s corporatization. This will make significant progress in implementing the electricity market legislation, make it possible to certify Ukrenergo as an independent transmission system operator for electricity transmission, and will split control over electricity generation and transmission,” the ministry said.
This issue is a condition for Ukraine to receive a disbursement worth EUR 500 million under the Memorandum of Understanding with the European Union, it said.
Ukrenergo operates trunk and interstate transmission lines, as well as centralized dispatching of the country’s integrated power grids. It is a state-owned enterprise, which was managed by Ukraine’s Energy and Coal Industry Ministry.

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