Business news from Ukraine

CHINA RAILWAY INTERNATIONAL GROUP READY TO INVEST IN QUICKLY IMPLEMENTED INFRASTRUCTURE PROJECTS IN KYIV

Deputy Head of Kyiv City Administration Dmytro Davtyan has discussed the possible participation of China Railway International Group (CRIG) in the implementation of infrastructure projects in Kyiv with representatives of the company.
The press service of Kyiv City Administration reported that representatives of the Chinese company said that they are ready to invest large funds in the projects that could be implemented in Kyiv in coming years.
“Of course, the most interesting project is construction of subway and bridges, as they could be united and the attraction of investment and work at these sections could be optimized,” the press service said.
Davtyan expressed confidence that this cooperation could and should become a pivot for Kyiv’s authorities.
“Rational and promising cooperation is interesting for us. We look for the new projects being not only important for Kyiv residents, but they also should be smart. The attraction of industry-led companies would allow not only achieving this, but it would also help to enrich the sector from the intellectual and technological point of view. Most technologies used by Chinese companies are high-tech and advanced solutions. This is also a good opportunity to strengthen and expand the intellectual potential of Ukrainian specialists,” he said.

SOLAR PARK PIDHORODNYE LAUNCHES 16 MW SOLAR PLANT IN ZAPORIZHIA REGION

Solar Park Pidhorodnye LLC (Dnipro) has built and commissioned a solar power plant with an installed capacity of 16.012 MW in Vesele (Zaporizhia region), according to the government web portal.
The projected volume of electricity production by the facility is 22.718 million kWh per year.
Solar Park Pidhorodnye previously built two solar plants with a total installed capacity of 1.645 MW in Dnipropetrovsk region.
The company is part of the Ukrainian Solar Systems group (Kyiv), which produces fixing systems for solar panels. The beneficiaries of Solar Park Pidhorodnye are Hanna Bondarenko, Serhiy Bryzhan, and Yuriy Hordeyev.

UKRAINE RAISES GAS PRODUCTION 3.1% YEAR-ON-YEAR IN JAN, 2018

Ukraine raised gas production 3.1% year-on-year in January, to 1.774 billion cubic meters (bcm), pipeline operator Ukrtransgaz has said. According to Interfax-Ukraine’s calculations, gas production by PJSC Ukrgazvydobuvannia rose 3.3%, to 1.303 bcm, while production by Ukrnafta fell 16.7%, to 91 million cubic meters.
Ukraine increased natural gas transit through the gas transportation system (GTS) by 32.1% year-on-year in January, to 6.056 bcm.
Transit of natural gas to European countries across Ukraine totalled 5.689 bcm and to Moldova 366.1 mcm.
Ukraine withdrew 2.178 bcm of natural gas from its underground gas storage facilities in January 2018, 1.5 times more than in December 2017.
Gas stocks in Ukrainian underground storage facilities fell by 26.3% or 4.460 bcm, to 12.515 bcm between October 24, when the heating season started, and January 31 inclusive.
According to Interfax-Ukraine’s calculations, the country withdrew an average daily 24.85 mcm of gas from underground storage in November and 46.05 mcm in December last year, and 70.24 mcm in January this year, including 68.27 mcm on January 31.
On January 31, 2017 Ukraine took 91.94 mcm from its facilities which had 9.885 bcm of gas stored, on January 31, 2016 some 52.67 mcm (11.112 bcm) and on January 31, 2015 some 56.04 mcm (9.311 bcm).
Ukrtransgaz, wholly owned by Naftogaz Ukrainy, operates a system of trunk gas pipelines and 12 underground gas storage facilities in the country.

EUROCHEM STARTS SUPPLYING NITROGEN FERTILIZERS TO HUNGARY AND MOLDOVA

EuroChem has started supplying UTEC®46 nitrogen fertilizer made at its production facilities in Kremenets (Ternopil region) to Hungary and Moldova, the company has reported on its website.
UTEC®46 fertilizer production in Kremenets was started in February 2017. The fertilizer contains inhibitor of nitrogen and does not require soil embedding after applying it.
As reported, in 2017, the Economic Development and Trade Ministry of Ukraine introduced sanctions against some companies of the EuroChem Group due to supplies of ammonia nitrate to the occupied areas of Donbas.
The share of Ukraine of total annual revenue of EuroChem is around 6% (data for 2015).
The EuroChem Group incorporates Russian plants Nevinnomyssky Azot, Novomoskovsk joint-stock company Azot, Fosforit, Belorechensk Mineral Fertilizers and Kovdorskiy GOK, as well as Lifosa phosphorous fertilizer plant in Lithuania and a plant in Belgium EuroChem Antwerpen.
The key shareholder of EuroChem is Andrei Melnichenko, controlling 90% of the group via Cyprus-based AIM Capital SE (earlier EuroChem Group SE). Cyprus-based Midstream Group Limited, which beneficiary is Dmitri Strezhnev, holds 10% of the group.

CUSTOMS REVENUES TO UKRAINIAN BUDGET 43% UP IN JAN 2018

Customs payments to the national budget in January 2018 increased by 43.5% compared to January 2017, to UAH 27.1 billion, which is UAH 4 billion, or 16.8% more than the target set by the Ministry of Finance, the State Fiscal Service said on its Facebook page.
Acting Head of the State Fiscal Service Myroslav Prodan said the increase in these figures was influenced by inflation, higher import volumes, and the factor of customs clearance of larger volumes of imported gas.
“However, without combating corruption and smuggling, without effective work on de-shadowing, we would not have achieved such results,” he wrote.

FOXTROT HOUSEHOLD APPLIANCES TO INVEST UAH 150 MLN IN RESTYLING OF STORES IN 2018

The Foxtrot Household Appliances network of household appliances and electronics, part of the Foxtrot group of companies (Kyiv), seeks to invest some UAH 150 million in restyling of 40 stores in 2018, the company’s press service has reported.
“Our plans for this year are to modernize all flagship stores. These are over 40 stores. Next month we will start upgrading first stores,” Foxtrot Household Appliances Executive Director Viacheslav Povroznik said.
Commercial Director Tetiana Moiseyenko said that the new concept foresees the division of the retail area into category sectors depending on the groups of goods. The company also plans to hold master classes and events for visitors.
The first restyled Foxtrot store was opened on January 25, 2018 in the GorodOK shopping center in Kyiv. Its retail area is 1,300 square meters.
In addition, Foxtrot plans to open up to 10 new stores in 2018, the press service said.
The network as of January 2018 had 158 supermarkets in 90 cities and towns of Ukraine with a total retail area of 151,000 square meters.
Foxtrot Group LLC was registered in 2004.
According to the unified pubic register, the ultimate beneficiary of the company is Ivor Omson (Seychelles).