KYIV. March 16 (Interfax-Ukraine) – The Bayer international chemical and pharmaceutical concern sold $100 million more in crop planting sector goods last year than in 2014.
“Bayer’s total sales in Ukraine last year exceeded EUR 283 million. Sales of goods in the crop planting sphere – EUR 100 million,” Head of Bayer Crop Science in Northern Black Sea Countries Andreas Loechel told reporters on Monday.
He said that sales of crop goods did not change in the U.S. dollar equivalent, but they posted an 18% increase in hryvnias due to local currency devaluation.
Bayer, the International Finance Corporation (IFC) and Raiffeisen Bank Aval on March 14 announced the start of a new partner financing program. The program helps agricultural companies and farmers by providing low-cost harvest planning and financing.
The financing term has been adapted to the crop cycle (up to nine months). Payments can be completely settled after selling the summer harvest.
Bayer has been operating in Ukraine since 1992 and focuses on health care, agriculture, and high-tech materials. It is a large supplier of plant protection agents (pesticides, herbicides and fungicides).
KYIV. March 16 (Interfax-Ukraine) – Ukraine intends by December 1, 2106 to sign a credit agreement with the European Investment Bank (EIB) and World Bank to build the Kaniv hydroelectric pumped storage power plant.
According to the government’s action plan for 2016, the relevant legislative measures are to be approved by December 1.
Total cost of the project is assessed at EUR 1.283 billion. The capacity of Kaniv hydroelectric pumped storage power plant will be 1 GW in generating operations, its construction will take six and a half years, and the payback period is about ten and a half years.
Public joint-stock company Ukrhydroenergo seeks to borrow 70% of funds for the project from international banks – EIB, World Bank, the European Bank for Reconstruction and Development (EBRD) and Deutsche Bank.
KYIV. March 16 (Interfax-Ukraine) – Public joint-stock company Turboatom (Kharkiv) and Westinghouse Electric Company seek cooperation in the realization of a project to boost the capacity of reactors of VVER-1000 type installed at Ukrainian nuclear power plants (NPPs) to 110% of their nominal capacity, the press service of National Nuclear Generating Company Energoatom has reported.
The company said that coordination and cooperation for increasing the capacity of Ukrainian NPPs is outlined in the memorandum of understanding signed between the companies.
“Strategic cooperation with Turboatom is a good example of how Westinghouse provides its client, Energoatom, with innovation solutions intended to increase the efficiency and safety of NPPs,” the press service said, citing Westinghouse Vice President and Managing Director Aziz Dag.
He said that Westinghouse wants to cooperate with local suppliers in the project.
Energoatom President Yuriy Nedashkovsky, in turn, said that one of the main goals of the company is the efficient exploitation of all operating reactors.
Turboatom Director General Viktor Subotin added that cooperation between Energoatom and Westinghouse provides for expansion of the imports replacement program that would involve other Ukrainian plants.
“Jointly with another Kharkiv plant Electrotyazhmash we want to develop the initiative, particularly, supplies of powerful engines and generators for NPPs,” he said.
KYIV. March 16 (Interfax-Ukraine) – Experts supporting the creation of a technocratic government in Ukraine have written an action plan for the new government.
The document was posted to the website of the Reanimation Package of Reforms civil platform.
Experts said the aim of economic policy should be the restoration of fast and sustainable economic growth. This can be accomplished by improving conditions for investments, increasing the private sector’s role in the economy and preventing corruption in the public sector.
Experts said that privatization of state assets and state property management is important in 2016. They said it is necessary to conduct at least three tenders for states in state-owned enterprises, as well as sharply reducing the list of enterprises not subject to privatization, In addition, they said the State Property Fund should become the public assets management body responsible for due diligence.
Experts said removing the ban on selling agricultural land from 2017 should be removed to improve the investment climate. Restrictions on dividend payments abroad should also be voided, they said. Experts said laws should be adopted by June for improving the country’s tax system and providing a level playing field for business. The measures should reduce the costs of taxpayers on tax compliance and eliminate opportunities for corruption and abuse by state officials. The reform package itself should be fiscally neutral, according to the experts, who said tax cuts should be made in line with a reduction of the share of public spending as a portion of GDP.
To improve the conditions for business development experts said it is necessary to implement a program in 2016 to improve Ukraine’s ranking in Doing Business; to launch the so-called regulatory guillotine for reforming supervisory and control bodies; to simplify foreign exchange regulations and to remove restrictions on foreign currency payments for trade operations, as well as adopting proactive trade policies which support Ukrainian companies entering foreign markets.
They said government should pursue a consistent policy on reducing the state role in re-distribution of revenues by completing a comprehensive review of public spending and by continuing the reform of public procurement, verification of recipients of pensions and social payments and verification of financial status of recipients of social payments. During the year it is necessary to start a pension reform that shall include the introduction of an accumulative component of the pension system, the said.
Experts said it is necessary to immediately create an office within the State Fiscal Service for large tax payers during the year. They recommended introducing an automatic procedure that ensures guaranteed full reimbursement of VAT to exporters.
Experts said government should also devote more funds and effort to attracting resources of international financial organizations considering investment projects in Ukraine. World Bank projects also represent unused financing in the amount of $2 billion, which is almost equal to the government’s entire capital expenditures in 2015.
KYIV. March 15 (Interfax-Ukraine) – Kyivsky cardboard paper mill (Obukhiv, Kyiv region), a leader in Ukraine’s pulp and paper industry in terms of production and sales, produced goods worth UAH 582.14 million in January-February 2016, which is 19.4% up year-over-year.
In January 2016, the mill saw a 16.7% increase in output compared to January 2015.
According to the UkrPapir association, the mill continued to see a certain decline in production of corrugated cardboard packaging in the first two months of 2016 – it was 2.6% down year-over-year, to 26.74 million square meters.
At the same time, an increase in corrugated cardboard packaging production in February 2016 from January 2016 made it possible for the mill to move ahead of the January leader in terms of corrugated cardboard output, Rubizhne cardboard packaging mill, and retain leadership after the first two months of 2016..
The Kyivsky mill decreased its production of cardboard by 17.3%, to 27,710 tonnes, including a decline of 16.5% in production of commodity cardboard, to 16,480 tonnes and a decline of 18.4% in production of box cardboard, to 11,230 tonnes.
Production of base paper (for sanitary products) remained unchanged, totaling 11,460 tonnes. Production of toilet paper, where the mill is a strong leader among other producers, fell by 7.5%, to 58.61 million rolls.
In January-February 2016, cardboard packaging production in Ukraine slightly rose, by 0.1%, to 105.23 million square meters, and cardboard and paper output dropped by 8.5%, to 111,100 tonnes.
Kyivsky cardboard paper mill is one of the largest cardboard and paper producers in Europe. It employs almost 2,200 people. It sells produce to almost 700 companies in Ukraine, some CIS member states and the rest of the world.
It mainly produces goods from wastepaper. Its capacity for processing wastepaper exceeds 850 tonnes a day.
In 2015, the mill saw a 54% rise in production from 2014, to UAH 3.857 billion.
