Business news from Ukraine

Business news from Ukraine

TIU CANADA LAUNCHES SOLAR POWER PLANT IN UKRAINE

TIU Canada on Thursday launched a solar power plant with a capacity of 13.575 MW in Kalynivka, Mykolaiv region.
The company’s press service reported that investment totaled over EUR 11 million. The plant cosists of 39,000 PV panels placed on 20 ha.
As reported, referring to TIU Canada in Ukraine Manager Valentyna Beliakova, TIU Canada plans to complete construction of two solar power plants with a total capacity of some 31 MW in Lymansky district of Odesa region this summer. The company will return to them after the adoption of the law on green auctions.
TIU Canada began its activity in Ukraine in June 2017. Its owner is the investment company Refraction Asset Management (Calgary, Canada). The company has already built a solar power plant with a capacity of 10.5 MW in Nikopol.

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MANUFACTURER OF EGGS AND EGG PRODUCTS IN UKRAINE OPENS SUBSIDIARY IN DUBAI

Ovostar Union agro-industrial group, one of the leading manufacturers of eggs and egg products in Ukraine, in 2018 opened a subsidiary in Dubai and bought two companies in Ukraine, the group reported in its annual financial report. “The group exports a large number of eggs and egg products to the United Arab Emirates. Assessing the potential and prospects for further expansion into the UAE market, in 2018 the group decided to open a company in Dubai. The charter capital was $28,000. The group owns 100% of OAE Food Trade FZE,” the report says.
According to the report, the volume of exports to the countries of the Middle East amounted to 26% of total sales.
In addition, in June 2018 Ovostar bought BVV Equipment LLC and BV Trading LLC (both based in Rokytne, Kyiv region). The purchase price was $2.1 million and $1.2 million, respectively. The goodwill of the enterprise is $51,000 and entirely belongs to the egg segment of the group.
According to the state register of legal entities and individual entrepreneurs, both enterprises are registered in 2016. The core business is production of food that are not assigned to other groups. The final beneficiaries are Borys Belikov and Vitaliy Veresenko.

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ON APRIL 20, SATURDAY IS PRE-ELECTION SILENCE IN UKRAINE

On April 20, Saturday, is a pre-election silence day before the runoff of the presidential election scheduled for April 21, Sunday.
“The pre-election campaign shall end at 24 hours on the last Friday before the day of elections,” according to Article 57 of the law on the election of the President of Ukraine.
According to the law, during these 24 hours it is banned to place campaign materials in media, disseminate printed campaign materials, public calls to vote for or not to vote for a candidate to the post of the President of Ukraine and place political advertising.
According to the law, pre-election campaign materials shall be removed at 24 hours on the last Friday preceding the day of elections by the respective services of local executive bodies, public authorities of the Autonomous Republic of Crimea and local self-government bodies.
Incumbent Ukrainian President Petro Poroshenko will face showman Volodymyr Zelensky in the runoff.

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PAPER AND BOARD COMPANY SEES 13% RISE IN PRODUCTION

Paper and Board Company (Lviv), the producer of packaging cardboard tubes and hygienic paper products, in January-March 2019 saw a 12.9% rise in production year-over-year, to UAH 151.7 million.
According to the Ukrpapir association, the company increased production of base paper for hygienic paper products by 6% over the period, to 1,530 tonnes, production of box cardboard fell by 9.25, to 5,910 tonnes.
Toilet paper output grew by 23%, to 899,000 rolls. In January-March 2019, production of toilet paper reached 173 million rolls.
Paper and Board Company was established in 1946 on the basis of the production facilities of a small mechanical plant. Currently it produces goods and semi-finished products from waste paper (cardboard sheets, corners, tubes) and pulp paper (toilet paper, towels, napkins).
The company exports its products, in particular to Poland, Germany, France, Austria, Italy, Portugal and Romania.

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