Business news from Ukraine

ECOLOGY MINISTRY GETS 44 APPLICATIONS FOR BUILDING SOLAR PLANTS IN CHORNOBYL ZONE

KYIV. Feb 28 (Interfax-Ukraine) – The Ministry of Ecology and Natural Resources of Ukraine as of February 28 had received 44 applications for the construction of solar power plants in the Chornobyl exclusion zone, minister Ostap Semerak said at the annual Ukrainian Energy Forum, organized by the Adam Smith Institute.
“As of today we have 44 applications and the territories, which our colleagues requested, from 20 to 1,000 hectares for legalization of solar power plants,” the minister said.
He also noted the acceptance of applications will end on March 1.
According to Semerak, the European Bank for Reconstruction and Development will consider the issue of financing the construction of solar power plants in the Chornobyl zone.

UKRAINE INCREASES PIPE OUTPUT BY 42% IN JAN

KYIV. Feb 28 (Interfax-Ukraine) – The major pipe enterprises of Ukraine in January this year increased production of pipes by 42% compared to the same period last year, to 76,500 tonnes, while in December they manufactured 67,000 tonnes.

The Ukrtruboprom association told Interfax-Ukraine its enterprises in January 2017 increased pipe production by 44%, to 51,900 tonnes, in December making 44,700 tonnes.

Khartsyzsk Pipe Plant (Donetsk region), located in the ATO zone, in January 2017 made 900 tonnes of pipes, whereas in the first and last months of 2016 it was standing idle.

Pipe production at Interpipe Nyzhniodniprovsky Pipe Rolling Plant in the period rose by 41.9% compared to 2016, to 18,300 tonnes (15,300 tonnes in December), Interpipe Novomoskovsk Pipe Plant decreased output by 31.3%, to 4,400 tonnes (3,000 tonnes in December), while Interpipe Niko Tube raised production by 82.5%, to 25,000 tonnes (22,300 tonnes in December).

Dnipropetrovsk Pipe increased pipe production by 15.4%, to 1,500 tonnes, making 2,100 tonnes in December. Production grew by 13.3% at Centravis, to 1,700 tonnes of stainless pipes (1,400 tonnes in December).

Trubostal cut output by 50%, to 100 tonnes and Nikopol Steel Pipe Plant YUTIST was standing idle.

NBU PERMITS INDIVIDUALS TO PLACE FOREIGN INCOME ON ACCOUNTS ABROAD WITHOUT PERSONAL LICENSE

KYIV. Feb 27 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has permitted individuals to place currency income received abroad on accounts in foreign banks without a personal license of the Ukrainian central bank, the NBU has said on its website.

The amendments to the conditions of licensing of transactions of individuals who place funds on accounts abroad and invest outside Ukraine were approved by NBU resolution No. 14 amending some NBU acts. The resolution was issued on February 23, 2017.

The amendments took effect on February 25, 2017.

The personal license is not required for investing and reinvesting of these funds abroad, including for trade with financial tools on foreign exchanges and other transactions.

The possible income earned abroad could be salary, pension, dividends and inheritance.

The NBU said that regardless of the possibility of holding transactions abroad individuals are to declare income and pay taxes in Ukraine in line with Ukrainian law.

Personal licenses are required for transfer of funds from Ukraine abroad with the purpose of investment or depositing on foreign accounts.

LEKHIM POSTS 19% RISE IN NET PROFIT IN 2016

KYIV. Feb 27 (Interfax-Ukraine) – The net profit of Lekhim pharmaceutical company (Kyiv) in 2016 amounted to UAH 95.915 million, which is 19% more than in 2015 (UAH 80.602 million).

Lekhim reported in the announcement of the next general shareholders’ meeting to be held on March 28, its net worth for the reporting period increased by 52%, from UAH 169.747 million to UAH 258.695 million.

The company’s assets increased by less than 1% and amounted to UAH 589.628 million.

JSC Lekhim was founded in 1992. The group of companies headed by Lekhim includes Lekhim-Kharkiv, PJSC Tekhnolog (Uman).

Lekhim produces more than 130 items of pharmaceutical goods. The group exports its products to Belarus, Kazakhstan, Turkmenistan, Russia, Moldova, Georgia, Uzbekistan, Armenia, and Azerbaijan.

DRAGON CAPITAL BUYS 4.3% MORE IN DUPD WITH ASSETS IN UKRAINE

KYIV. Feb 27 (Interfax-Ukraine) – Dragon Capital, a member of the Dragon Capital Group, has additionally acquired 4.674 million shares in Dragon Ukrainian Properties and Development Plc (DUPD, the Isle of Man), boosting its stake to 14.108 million shares of 22.04%.

DUPD said last week that the deal was finalized on February 21. Shares were bought for GBP 0.13 per share (around $0.16 per share).

The total cost of the deal was around $747,913.

As reported, earlier Dragon Capital several times bought shares in DUPD.

DUPD was founded late February 2007. Its portfolio includes Kyiv’s Obolon Residences project, suburban gated community Green Hills and Riviera Villas, a stake in Arricano, 38 apartments in Sadok Vyshnevy suburban gated community and some land parcels in Ukrainian regions.