KYIV. April 12 (Interfax-Ukraine) – Elvorti Group (Kirovohrad), an agricultural machinery manufacturer, has officially presented a new foundry – private joint-stock company Metalit.
The company said that the new company was created on the basis of a foundry shop of public joint-stock company Chervona Zirka, a large agricultural machinery manufacturer in Ukraine. Investment in the foundry reached UAH 120 million.
Metalit produces cast section weighing from 500 grams to 55 kilograms from cast iron using automated equipment made by Danish Disa. The production capacity is 2.5 tonnes per hour. The equipment is unique in Ukraine.
Some UAH 108 million was investment into equipment, particularly, Germany’s Otto Junker induction melting furnace with a production capacity of 5 tonnes per hour, Italy’s Fomet automated pouring control device and Disa casting line with a production capacity of 100-120 cast sections a year and the Disa Core device.
Metalit can supply products for various engineering, hydraulic systems, machine building and railway transport.
“Companies that cooperate with Metalit have managed to increase the quality of their products, while Hydrosila stopped importing casting sections from Turkey,” the press service said.
The foundry has a next generation filter system designed under European standards by Germany’s FLSmith.
KYIV. April 11 (Interfax-Ukraine) – State enterprise Horse Breeding of Ukraine, which provides breeding pedigree horses, in 2015 saw UAH 6.4 million of net profit against UAH 875,000 of net loss in 2014, company director Denys Ptushko has said at a briefing at Interfax-Ukraine.
“In 2015 we managed not only to preserve but also increase horse numbers: as of January 1 the figure stood at more than 1,700 animals, which is 2.6% more than in the previous year,” he said.
According to Ptushko, the structure of horse breeds was as follows:
Ukrainian Saddle horse – 417 animals, Orlovsky Trotter – 398 horses, Russian Trotter – 338 horses, Thoroughbred horses – 292 animals, Novo-Oleksandrivska Heavy Draft horses – 111 animals, and 144 working horses.
In addition, the company branches by early 2016 had 3,380 pigs, 448 cattle and 187 sheep.
In general, the company last year increased production of agricultural goods in monetary terms by 8.2%, to UAH 74.9 million, the profitability of sales amounted to 17.4%, increasing by 7.9% compared to 2014.Horse Breeding of Ukraine was established by the government of Ukraine through the reorganization of state-owned horse breeding enterprises. The company includes 14 branches in ten regions of Ukraine, including ten studs, three breeding centers and Odesa Hippodrome.
KYIV. April 11 (Interfax-Ukraine) – The total amount of investment required for energy efficiency measures in Ukraine is $57 billion, according to an analytical report by the Ministry of Regional Development, Construction, Housing and Utilities Services, posted on the ministry’s website.
According to the ministry, at the extent of investment in the energy efficiency Ukraine could reduce the annual consumption of natural gas for heating from 18.6 billion cubic meters (bcm) to 7.2 bcm.
According to the report, most investment is required for rehabilitation of private houses and multi-apartment buildings – $28 billion and $17 billion respectively. Such measures will allow to reduce the annual consumption of natural gas for heating by 4.7 bcm and 2.3 bcm, respectively.
The modernization of the sector of heat generation and heat supply networks will allow to reduce the annual consumption of natural gas by 2.4 bcm, this requires $6 billion of investment.
KYIV. April 11 (Interfax-Ukraine) – The World Group’s International Finance Corporation (IFC) is to lend $95 million to Kernel Holding S.A. and its subsidiaries for financing their working capital.
The Board of Directors will decide on the loan on May 10, IFC said in an announcement on its website.
“IFC loan will support a leading grain trader, crusher and a primary agricultural producer with significant linkages to the economy of rural areas. Kernel employs over 14,500 people on a full time basis, including 8,690 in its farming division. Through its wide origination network Kernel annually procures in excess of 2 million tons of sunflower seeds and more than 3 million tons of grains from about 5,000 farmers. In 3 years, the company plans to increase its procurement volumes by 30%, which would expand its reach to 6,500 farmers,” the announcement reads.
IFC’s financing will be channeled throughout the agri supply chain (farmers,
SMEs) and will also inject additional liquidity into the Ukrainian agri sector, which currently experiences working capital shortages.
Kernel is a vertically integrated company which has been operating in the Ukrainian agribusiness sector since 1994. The group produces sugar and sunflower oil, distributes bottled oil under the brand names Schedry Dar, Stozhar and Chumak Zolota, exports oil and grain, and provides elevator storage services for grain and oilseeds.
Kernel in the first half of the 2016 fiscal year (July 2015-June 2016) saw net profit rise by 79%, to $140.4 million while revenues fell by 19%, to
$998.7 million.
KYIV. April 11 (Interfax-Ukraine) – The Energy Community has shortlisted six Ukrainian projects as candidates for the label of Projects of Energy Community Interest (PECI), Director of the Energy and Coal Industry Ministry’s planning and European integration department Mykhailo Bno-Airiian has said.
“There was a second meeting to shortlist the projects for PECI status. As I’ve written before, we’ve submitted six projects – three concern construction and renovation of power transmission lines, two foresee the construction of gas interconnector pipelines and one is related to crude oil. It’s pleasant that all the projects have been shortlisted for further action,” he wrote on Facebook.
Bno-Airiian says that there are 33 projects worth over EUR 4 billion that have been submitted for PECI status.
Projects of Energy Community Interest (PECIs) is a label attached to infrastructure projects that have the highest positive impact in the largest possible number of the Energy Community Contracting Parties. The identification of PECIs has evolved in two tiers; 2013 PECIs and 2016 PECIs.
KYIV. April 11 (Interfax-Ukraine) – The validity of the consolidated financial report of the National Bank of Ukraine (NBU) for 2015 has been checked by the Deloitte audit firm, which made positive conclusions (without qualifications), the NBU said on its website.
Deloitte audits reports of over 20 central banks in the world, the NBU said.
The NBU selected Deloitte via a tender for the second year in a row.
As was reported, the NBU’s assets on the balance of separate articles grew by 62% in 2015 from 2014, to UAH 1.009 trillion, according to rough estimates.
“The NBU’s assets in the final annual balance report will be smaller compared to the preliminary data thanks to closure of the matching and unused financial tool balances as swaps with foreign central banks. The sum of growth of NBU’s assets, taking into account these adjustments, would be around UAH 272 billion or 47%,” the bank said, citing Director of the Financial Controlling Department at the NBU Oleh Strynzh.
He said that according to tentative data, the increase in the NBU’s assets is first linked to growth of Ukraine’s forex reserves from $5.77 billion to
$13.3 billion. Their hryvnia equivalent in the NBU’s balance grew by UAH
200.4 billion in a year.
The second largest factor is growth of the hryvnia-pegged securities portfolio – by UAH 73.3 billion.
The regulator said that in 2015, banks returned UAH 8.2 billion on refinancing credits to the NBU, which is reflected in the trend of the decline in credits in the assets of the central bank from UAH 126.1 billion to UAH 117.9 billion.
The bank’s liabilities portfolio posted a rise in SDRs thanks to the attraction of tranches worth UAH 110.5 billion in equivalent from the International Monetary Fund (IMF) – from UAH 65.6 billion to UAH 176.1 billion.
The deposit certificate portfolio of the NBU grew by UAH 70.3 billion in 2015, to UAH 89.9 billion.
The central bank’s capital rose by 100% or UAH 80.3 billion, to UAH 161 billion.
The NBU’s preliminary report for 2015 will be audited and approved by the board and council. By April 30, 2016, profit will be distributed to the bank’s reserves and Ukraine’s national budget.
NBU financial reports are drawn under the international financial reporting standards.
