Kivshovavta Agro LLC (Kyiv region) belonged to Japan’s Kivshovavta is launching a silo with a storage capacity of 16,000 tonnes in the village of Kivshovata, Kyiv region, the company’s press service has reported. The press service said that with the launch of the silo the storage facilities of the company will be around 30,000 tonnes. Investment in the first and second stages of the silo totaled some UAH 60 million, and over UAH 100 million were sent to buy grain from other producers.
“The first stage of the silo was completed before 2017. In the past year it was reconstructed and expanded,” the company said.
Kivshovavta Agro seeks to boost land bank four times in coming five years, to 10,000 ha and build one more silo. Kivshovavta Agro LLC was founded in 2009. Its owner – SDGs Corporation – bought the company in Q4 2016. Kivshovavta Agro is the only enterprise of SDGs Corporation in Ukraine. The company plants wheat, sunflower, corn, soybeans. Its land bank is 2,500 ha.
The Agricultural policy and Food Ministry of Ukraine foresees in its farmland market concept that only Ukrainian citizens would be able to buy farmland.
According to a report on the ministry’s website, the basic provisions of the concept also set the maximum size of farmland, which can be owned by one person and anti-speculative mechanisms (the collection of a state duty) in case of resale of a land parcel within the first three years.
The document provides that current users are guaranteed the preservation of the land bank in case of a change of the owner of the land.
The concept introduces price benchmarks for land parcels during the first two years after the cancellation of the moratorium at a level no lower than the monetary valuation cost. Prices of all purchase/sale transactions for which property rights are registered are subject to state registration, which will allow the National Bank to regulate the mortgage market.
The document creates preferential conditions for the purchase of land by small players, primarily by farms, in particular through a mechanism for partial loan guarantees.
Hungary’s low cost airline WizzAir is interested in flying to the Kherson airport, Wizz Air Executive Vice President and Deputy Chief Executive Officer Stephen Jones said at a press conference. “We had a very interesting and productive meeting with representatives of the Kherson airport. We are working on this issue. I am considering the possibility, but if I’m not mistaken, it is very important to have a runway in Kherson to service our planes. This is an excellent region,” Jones said.
He also said that he was pleasantly surprised by the professionalism of the airport team and expressed hope for future cooperation, but refused to specify the possible dates for the beginning of this cooperation.
WizzAir is the largest low cost airline in the Central and Eastern Europe. It offers flights from 142 airports in 44 countries. Its fleet consists of 100 Airbus A320 and Airbus A321 planes.
Revenue of Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metal group, fell by 6.4% in May 2018 or by $68 million compared with the previous month, to $998 million from $1.066 billion. According to a monthly report based on preliminary financial results, earnings before interest, taxes, depreciation and amortization (EBITDA) in May totaled $224 million, which is 3% or $7 million more than in April ($231 million).
According to the report, adjusted EBITDA of the metallurgical division of the group in May 2018 totaled $133 million, including $17 million from participation in JVs, EBITDA of the mining division was $87 million, including $14 million from participation in JVs. Corporate overheads totaled $5 million.
Total revenue in May consisted of revenue of the metallurgical division in the amount of $875 million, the mining division – $262 million and eliminations were -$139 million. Total debt of the company in May fell by $229 million compared with April, to $2.977 billion. Cash and cash equivalents fell by $375 million, to $268 million. Net cash used in investing activities totaled $68 million and net cash used in financing activities were $200 million.
Ukraine will open the Consulate General in Canada’s Edmonton on September 7, Ukrainian Ambassador to Canada Andriy Shevchenko has said. “On September 7 this year, we plan to accept the first citizen of Ukraine in Edmonton and thereby start the work of the Ukrainian Consulate General in Alberta province,” he told Interfax-Ukraine. Shevchenko noted that Ukraine’s presence in the western part of Canada will be ensured in this way.
The ambassador expressed hope that the opening of the consulate will be important for establishing contacts with business.
One troy ounce=31.10 grams
