Business news from Ukraine

Business news from Ukraine

MARRIOTT TO OPEN FIRST ALOFT HOTEL IN UKRAINE FOR MAY 1

Marriott International has postponed the opening of its first hotel under the Aloft brand in Ukraine from February 15 to May 1, 2018.
According to the updated information on the company’s official website, the Aloft hotel will be opened on May 1. The hotel is located at 17 Esplanadna Street in Kyiv’s Pechersky district.
As reported, it is part of the U.S. Starwood Hotels & Resorts chain, acquired by Marriott International in 2016.
There are 250 Aloft hotels across the world.
Marriott International, Inc. is a leading global lodging company with more than 6,000 properties in 122 countries and territories, reporting revenues of more than $17 billion in fiscal year 2016. Founded by J. Willard and Alice Marriott and guided by family leadership for nearly 90 years, the company is headquartered outside of Washington, D.C. in Bethesda, Maryland.

FIRST 3D LABORATORY IN UKRAINE OPENS AT KHARKIV POLYTECHNIC INSTITUTE

The first 3D laboratory in Ukraine has opened Kharkiv Polytechnic Institute to train specialists in the field of metrology and technical measurements for machine building and other industries, the institute’s press service has reported.
“Our task, the task of business is to create new jobs and enterprises so that students who graduated from the university could receive decent work in Ukraine. There should be a practical laboratory at every university. Out task for the near future is to find companies that have professional experience in a particular area and that will work with the university and create new laboratories. Students should be able to quickly introduce their theoretical knowledge into practice, even if they are mistaken,” the head of the supervisory board at Kharkiv Polytechnic Institute, Vasyl Khmelnytsky, said.
According to the report, “certification of measuring equipment for Ukrainian enterprises will be conducted at the center, and students and specialists will be able to study the work of equipment for 3D scanning and reverse modeling, as well as new 3D printers.”
According to Rector of Kharkiv Polytechnic Institute Yevhen Sokol, today graduates should be able to effectively use theoretical knowledge that they receive, and this is impossible without modern equipment.
“The state has already provided what it could provide, so today the only opportunity is business that is vitally interested in getting good and modern staff. It can support higher education at the world level. It is the combination of business and education that helps us open such laboratories, which will teach our students with the help of the most advanced equipment,” Sokol said.
The laboratory is equipped with a universal tool for three-dimensional measurements and digitization, a portable coordinate-measuring system for high-precision measurements at extremely long distances, a 3D scanner, and a 3D printer.

European Bank for Reconstruction and Development ISSUES LOANS WORTH RECORD HIGH OF EUR 9.7 BLN IN 2017, UKRAINE GETS EUR 581 MLN

The European Bank for Reconstruction and Development (EBRD) in 2017 issued loans for a record high amount of EUR9.7 billion, the bank said in a statement.
The figure has been growing for four consecutive years, while in 2016 it was EUR 9.4 billion.
The number of projects that received funding from the EBRD increased to 412 against 378 a year earlier.
The largest recipient of loans was again Turkey, despite the fact that the figure decreased compared to 2016 to EUR 1.54 billion from EUR 1.92 billion. Egypt ranks second: investment in the country almost doubled, to EUR 1.41 billion. Ukraine ranks third with EUR 581 million in 2017.
It is noted that the volume of loans granted to projects in the field of “green” energy in the past year increased to EUR4.1 billion from EUR2.8 billion a year earlier. Thus, the share of such projects in the bank’s new loans was 43%, although the EBRD management previously expected to reach a figure above 40% by 2020.
Among the major projects is the construction of a solar power plant in the Egyptian city of Benban. It is expected that this power plant will reach a capacity of 1.8 gigawatts and will become the largest such project in the world.
In 2017, the EBRD for the first time started issuing loans to Lebanon, and also opened offices in Alexandria, Tangier, and Odesa.

UKRAINE TO CONSIDER POSSIBILITY OF TRAINING HIGHLY SOUGHT INDUSTRIAL STAFF ACCORDING TO HIGH GERMAN STANDARDS

Ukraine will consider the possibility of training industrial staff doe highly sought professions according to German standards, the press service of the Cabinet of Ministers of Ukraine has reported after a meeting of Ukrainian Prime Minister Volodymyr Groysman with representatives of leading German companies operating in Ukraine.
“At the suggestion of Germany, the agenda of bilateral relations includes issues related to the facilitation of the training of industrial personnel in Ukraine for the most popular professions, according to German standards,” the report said.
In this context, the prime minister proposed further identifying the most urgent priorities for joint work and moving in specific directions and projects.

government EXTENDS AVTOKRAZ POWERS AS SPECIAL EXPORTER UNTIL JUNE 1, 2019

The government of Ukraine has extended until June 1, 2019 the powers of PJSC AvtoKrAZ (Kremenchuk, Poltava region) to export military goods of its own production and import military goods for its own production.
Such a decision is stipulated in cabinet resolution No. 1034 of December 20, 2017, which introduces amendments to resolution No. 1228 dated 1999.
The status of a special exporter was provided to AvtoKrAZ by the government in 2007. Subsequently, the term of powers was periodically extended.
PJSC AvtoKrAZ produces 33 basic models, more than 260 modifications and sets for KrAZ machinery for work in all sectors of the economy and in the Armed Forces of Ukraine.
The enterprise is part of the financial and industrial group of Kostiantyn Zhevaho.

EBRD TO PROVIDE UP TO $50 MLN LOAN TO NIBULON for grain logistics infrastructure

The European Bank for Reconstruction and Development (EBRD) will provide up to $50 million loan to JV Nibulon LLC to support the expansion and modernization of Nibulon’s grain logistics infrastructure in 2018-2019.
EBRD Senior Adviser Anton Usov told Interfax-Ukraine that the project was approved by the bank’s board at a Wednesday meeting.
According to the materials of the bank, the project includes the construction of river terminals, transshipment crane, river fleet and Mykolaiv terminal enhancement.
The project will support Nibulon’s strategy aimed mainly at the expansion and optimisation of its river grain logistics facilities in order to increase grain trading volumes reducing the share of road and rail transportation, which will lead to the improvement of profitability, efficiency, as well as to the reduction of environmental footprint.
The total cost of the project is near $140 million. Technical Cooperation funds are provided by Japan-EBRD Technical Cooperation Fund to partially cover project’s external legal costs.
Nibulon LLC was established in 1991. It is one of the largest operators in the grain market of the country. It has elevators with a total capacity of about 2 million tonnes, as well as its own transshipment terminal with a capacity of 5 million tonnes in Mykolaiv.
Nibulon cultivates 82,000 hectares of land, owns and operates the second largest network of internal elevators and river terminals, a sea terminal in Mykolaiv. The company exports mainly maize, wheat and barley to more than 20 countries. The annual volume of exports reaches 4.5 million tonnes.