KYIV. Nov 9 (Interfax-Ukraine) – President of Ukraine Petro Poroshenko has said that the Ukrainian government is ready to resume privatization, and judicial reform should complete the system of fighting corruption.
While congratulating McKinsey & Company on the 15th anniversary of its activity in Ukraine, the president outlined the nearest priorities for continuing reforms in Ukraine, the presidential press-service reported on Thursday.
“He said the judicial reform should complete the entire system of struggle against corruption. According to him, the pension reform has introduced a completely new system that will allow people to receive a fair pension at all times,” the message reads.
The president also stressed the importance of the medical reform that will, inter alia, improve the quality of medical services in rural areas.
“He also said that the government was ready to resume privatization,” the press service reported.
Poroshenko also noted that business structures recognize the efforts of the Ukrainian authorities to implement reforms. According to him, recent survey done by Institutional Investor by asking the managers of investment companies showed that Ukraine is first in the list for travel in the next 12 months for current and potential investors.
Moreover, Moody’s international rating agency is upgrading their rating outlook on Ukraine from stable to positive, citing “Ukraine’s achievements implementing structural reforms.”
Earlier on this day the Verkhovna Rada of Ukraine adopted at first reading the government bill on privatization of public property (No. 7066) – a new wording of the law on privatization, which facilitates the sale of hard-to-sell facilities, describes the conditions for attracting privatization consultants and is one of the prerequisites for continuing cooperation with the IMF.
KYIV. Nov 1 (Interfax-Ukraine) – Canada’s Black Iron with assets in Ukraine seeks to draw up and present a new development plan for the Shymanivske iron ore project in the middle of the fourth quarter of 2017, the company said in a press release on Monday.
According to the press release, When Black Iron completed its feasibility study in 2014, Ukraine’s exchange rate was fixed at UAH 8/$1. As part of Ukraine’s International Monetary Fund bailout provisions, the exchange rate was unpegged to the U.S. dollar and is currently sitting at around UAH 27/$1. Using this lower exchange rate is expected to significantly reduce Black Iron’s construction cost and operating costs for the project.
In addition, Black Iron plans to make an ultra-high grade 68% iron content product that, using today’s prices, would sell for $42 to $48 per tonne more than the benchmark 62% iron content product often quoted in news articles resulting in a current selling price of near $105 per tonne. Steel mill profitability – premiums for high grades usually rise when steel mills are profitable as the mills are seeking to increase output by using more productive raw materials. Metallurgical coal prices – high grade iron ore demand usually goes up when coking prices rise as steel mills try to reduce fuel rates by using better quality ores. Chinese environmental policy – pollution is a major issue in China forcing steel mills to curb emissions and driving a preference for high quality raw materials to help reduce emissions.
The Black Iron project will be based on a much more favorable exchange rate and phased development plan starting with 4 million tonnes of concentrate production per year ramping up to 8 million tonnes per year using self-generated cash to fund the expansion.
Black Iron will also be engaging firms to seek prepaid offtake and/or a joint development partner to significantly reduce the amount of equity that needs to be raised to build the mine. Additionally, the company will be initiating discussions with debt finance sources including the European Bank for Reconstruction and Development (EBRD).
Black Iron benefits from not needing to build any major infrastructure such as railways, power lines or a port as these are all in existence within very close proximity to the ore body.
KYIV. Nov 1 (Interfax-Ukraine) – PJSC Frunze Plant (Kharkiv) has shipped the first batch of products to a British woodworking company.
“A company from Wales, engaged in woodworking and promotion of environmental boilers, has been shipped 175 sieves,” the press service said.
According to the report, the products of the Ukrainian enterprise will be used by the British firm to dry wood.
“The first delivery to the British market is the result of our active participation in major international exhibitions due to which we are now actively expanding the geography of sales,” Oleksandr Vasylenko, the chairman of Frunze plant, said.
Frunze Plant was founded in 1885. It produces sieves for agricultural machinery, gratings, grids and fencing systems for construction industry, elements of urban environment (trash cans, benches), warehouse racks and protective systems of engine crankcases for cars.
The assortment includes more than 1,750 types of perforated metal sheets and punched sieves.
The company has an extensive network of representative offices and branches in Ukraine and Russia, as well as in Kazakhstan and the Middle East (the UAE).
KYIV. Nov 1 (Interfax-Ukraine) – The State Agency of Ukraine on Energy Efficiency and Energy Saving has carried out compensation under the “warm credits” program: in October UAH 132 million in irrevocable financial assistance for energy efficient measures was paid from the national budget to the population and the associations of multi-apartment block co-owners.
“The largest amount of compensation, UAH 117 million, was paid to families for insulation of individual housing. Nearly UAH 4 million was paid to households that installed solid fuel boilers. Another UAH 11 million was paid to the associations of multi-apartment block co-owners and housing maintenance offices, which implemented energy efficient measures in high-rise buildings,” the message says.
In total, since the launch of the “warm credits” program the population and the associations of multi-apartment block co-owners have been paid almost UAH 1.8 billion from the national budget. In particular, UAH 1.6 billion was paid to individuals for insulation of individual housing, UAH 114 million to individuals to install solid fuel boilers and UAH 73.3 million to the associations of multi-apartment block co-owners and housing maintenance offices for implementing energy efficient measures in high-rise buildings.
KYIV. Oct 30 (Interfax-Ukraine) – PJSC Hnydavsky Sugar Plant (Lutsk) will invest EUR15 million in modernization of its facilities within five years, according to the company’s website.
According to the report, this year special press units for squeezing pulp, which will allow improving production figures, will be purchased.
“Now pulp contains 12-13% of dry substances, and when the pressing units are installed, the figure will amount to 27%. Special warehouses will be built to storage of this product. It will be dry and won’t contact the environment, so it could be supplied to farmers during the year. On the other hand, pulp will be used for making feed for cattle, as well as for generating energy on the bioreactor,” the report said.
The plant also plans to purchase molecular presses that will allow cleaning sugar production waste and, as a result, receive fertilizers.
“The last stage of the program is the purchase of a special water purification facility that is used to wash sugar beets, after which water will be returned to production,” the company noted.
According to information on the website of the sugar factory, the capacities of the enterprise allow processing 5,000 tonnes of sugar beets per day.
KYIV. Oct 30 (Interfax-Ukraine) – The Ministry of Energy and Coal Industry of Ukraine and China National Nuclear Corporation (CNNC) have discussed organization of nuclear fuel production in Ukraine, the press service of the ministry has said.
The corresponding issue was raised during the meeting of Deputy Energy Minister of Ukraine Natalia Boiko and the CNNC President on October 26.
“The parties discussed the expansion of cooperation in the development of the nuclear industry of Ukraine and China, organization of nuclear fuel production and the joint implementation of an investment project on the basis of a newly constructed mine at Novokostiantynivske uranium ore deposit,” the report said.
The parties also discussed the issue of involving China Development Bank (CDB) in financing the project of Novokostiantynivske uranium ore deposit.
As reported, Minister of Energy and Coal Industry of Ukraine Ihor Nasalyk stated about the interest of Westinghouse and one of French companies in building a plant for producing nuclear fuel in Ukraine.
