Business news from Ukraine

EARLY GRAINS SOWED ON 86% OF AREA – AGRICULTURE MINISTRY

KYIV. April 13 (Interfax-Ukraine) – Early grains have been sowed on an area of 2.1 million hectares, or 86% of the forecast, the press service of the Ministry of Agricultural Policy and Food has stated, with reference to minister Oleksiy Pavlenko.

“The largest areas were sowed in Dnipropetrovsk region (203,800 hectares or 81% of the forecast), Zaporizhia region (180,200 hectares or 90%), Kherson region (145,800 hectares or 84%), Odesa region (138,200 hectares or 101%) and Mykolaiv region (135,000 hectares or 91%),” he said.

In addition, sugar beets were sowed on an area of 216,000 hectares, or 81% of the forecast, sunflower on 805,000 hectares (16%). The sowing of maize (254,000 ha, or 6% of the forecast) and soybeans (34,000 ha, or 2% of the forecast) has been also started.

As reported, with reference to the ministry and preliminary data from the regions, the entire area under agricultural crops in all categories of farms for the 2016 harvest is expected to reach the level of 2015 at 26.7 million hectares.

GERMAN LEONI AG TO BUILD ANOTHER FACTORY FOR PRODUCTION OF CAR WIRES IN PRYKARPATTIA

KYIV. April 13 (Interfax-Ukraine) – German company Leoni AG, which has a plant for production of car cables in.Stry (Lviv region), has decided to build another plant in Prykarpattia.

According to a report on the website of Ivano-Frankivsk Regional State Administration, this was discussed during a meeting of Chairman of Ivano-Frankivsk Regional State Administration Oleh Honcharuk with Leoni AG CEO Stefan Schmid.

According to him, the construction of a plant in Kolomyia district is to be completed by July-August 2017. At this stage, the amount of investment will be almost EUR15 million, including EUR6.6 million will be used for building an industrial facility, and EUR8 million for equipment.

The total area of the factory is expected to be 6,300 square meters, the number of employees – 800 people.

“In general, in the framework of projects implemented by Leoni AG in the region, almost 7,000 Prykarpattia residents will work at its facilities,” the administration said.

As reported, Leoni Wiring Systems UA has been working in Lviv region since 2003.

UKRAINE, CHINA APPROVE SPACE COOPERATION PROGRAM 2016-2020

KYIV. April 12 (Interfax-Ukraine) – Ukraine and China have approved a long-term program of cooperation in the space sector for the period of 2016-2020.

According to the press service of the State Space Agency of Ukraine, the document was approved at a meeting of the subcommittee on cooperation in the space sector of the Ukrainian-Chinese intergovernmental commission in Kyiv on April 7-8.

The new long-term program of bilateral cooperation provides for the joint implementation of more than 70 projects. Most of them envisage the creation of rocket and space technologies, taking into account China’s implementing the Lunar Exploration Program and a mission to study the planets of the solar system, as well as cooperation in the field of creating new materials and Earth remote sensing.

CEO of the State Space Agency of Ukraine Liubomyr Sabadosh and from China – Deputy Head of the China National Space Administration Wu Yanhua co-chaired the subcommittee.

According to the agreement of the parties, the next meeting of the subcommittee on cooperation in the space sector of the Ukrainian-Chinese intergovernmental commission is to be held in China in the first half of 2017.

UKRAINE’S LARGEST INNOVATION CENTER IHUB WILL OPEN IN KYIV IN JULY

KYIV. April 12 (Interfax-Ukraine) – Ukraine’s largest center of innovations and entrepreneurship of the iHub international network will open at 10 Khreschatyk Street in Kyiv in early July, the press service of Kyiv City State Administration has said.

“It will be the largest center of innovations, the object in which hundreds of young entrepreneurs will be daily trained,” reads a press release citing the board chairman of the Seed Forum international fund in Ukraine, the operator of iHub centers, Dmytro Podolev.

According to him, investment in the opening of a new center of innovations and entrepreneurship will be from UAH 10 million to UAH 15 million. The object with an area of 1,600 square meters will provide 200 jobs. The new iHub center will include eight open and 12 semi-enclosed conference halls, two event rooms, office space in the format of “open space,” four recreation areas, as well as a gym and showers. In addition, an area for parking bicycles will be foreseen.

The iHub project is developed with the support of the Norwegian Ministry of Foreign Affairs. The project operator is the Seed Forum international network of non-profit support foundations and investment development.

POLISH GROCLIN TO FOCUS ON PRODUCTION AT ITS PLANTS IN UKRAINE

KYIV. April 12 (Interfax-Ukraine) – The Groclin manufacturer of automobile seat covers and upholstery for car seats to reduce costs intends to focus on production at its two plants in Ukraine (Zakarpattia and Ivano-Frankivsk regions), taking into account a cheaper labor force, according to Polskie Radio (Polish Radio).

“Groclin is convinced that wages are too high in Poland. It is more profitable to manufacture upholstery in Ukraine, where wages are less than half,” reads the report.

In this regard, the company plans in 2016 to reduce production at Polish factories in Grodzisk Wielkopolski by 65% and the main plants for the company in 2017 will become those in Uzhgorod and Dolyna (Ivano-Frankivsk region).

“In 2017 some 60% of produce will be sold in Ukraine,” reads the report citing Groclin Board Chairman Andre Gerstner.

Polish Groclin Group specializes in the production of automobile seats and seat covers. It has five production facilities in Poland, Ukraine and Germany. The staff totals 1,630 people. Most of the customers are the leading carmakers, including VW, Volvo, Renault, BMW, Ford and Opel.

GEOS TO INVEST EUR 10 MLN IN BUILDING RESIDENTIAL COMPLEX IN BUDAPEST

KYIV. April 12 (Interfax-Ukraine) – Kyiv-based GEOS construction company (Geos Construction LLC) seeks to realize a project on construction of a residential complex in the historic part of Budapest (Hungary) in 2018.

The company told Interfax-Ukraine that the cost of the project is EUR 10 million. The ERKEL Residences nine-storey complex will be built in Ferencvaros district of Budapest.

The company said that gross area of premises will be around 9,000 square meters, including over 5,000 square meters of residential area. It will have 71 apartments.

The apartments will be offers with internal decoration, furniture and household appliances.

A three-level underground parking area will be built.

The company said that the completion of construction is scheduled for Q2 2018.

GEOS plans in 2016 to implement the project of constructing an apartment building in the Roscoe Village district in Chicago (the United States). The house will be located on a land plot of about 290 square meters, while the area of the planned building will be 465 square meters.

Geos Construction LLC was founded in 2008. It builds residential and non-residential buildings and facilities.