Business news from Ukraine

Business news from Ukraine

EBRD ORGANIZES EUR 6.9 MLN FINANCING FOR RENGY DEVELOPMENT TO BUILD SOLAR POWER PLANT IN VINNYTSIA REGION

KYIV. Aug 15 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) and Clean Technology Fund (CTF) have provided EUR 6.9 million to Rengy Sarata LLC (part of Rengy Development, Kyiv) to build a solar power plant with a capacity of 9.5 MW in Vinnytsia region, EBRD Senior Communications Adviser Anton Usov has wrote on the Facebook page.

“EBRD and CTF have provided a loan of EUR 6.9 million to Ukrainian developer Rengy Sarata LLC to design, build and exploit a solar power plant with a capacity of 9.5 MW to be located in Sharhorod near Vinnytsia. Since 2012, this is the third successful [and the largest project] of the EBRD with Rengy Development,” he said.

As reported, earlier Rengy Development has built solar power plants with an installed capacity of 4.5 MW and 7 MW in Tomashopil and Bershad districts of Vinnytsia region.

NBU EXPANDING FINANCING OF IMPORTS THANKS TO RELAXATION OF ATTRACTION OF FUNDS FROM EXPORT-CREDIT AGENCIES

KYIV. Aug 15 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) is facilitating the conditions for foreign economic transactions and expanding the possibilities of financing imports, according to a posting on the NBU’s website.

According to the NBU, the relevant amendments are outlined in NBU resolution No. 368 dated August 11, 2016. The amendments will take effect on August 18, 2016.

“The NBU expands the opportunities for financing imports transactions of Ukrainian enterprises thanks to relaxation of the conditions for attracting foreign financing with participation of foreign export-credit agencies and international financial institutions (IFIs),” the central bank said.

Resident can submit original documents and their copies in the electronic form to register the loan agreements signed with nonresidents.

UMG INCREASES DRY ASH SALES FOR CEMENT, CONCRETE PRODUCERS BY 17.5% IN H1, 2016

KYIV. Aug 12 (Interfax-Ukraine) – UMG Holding, the only Ukrainian operator of waste from TPPs, in January-June 2016 increased sales of dry ash from Ukrainian coal thermal power plants (TPP) by 17.5% compared to the same period in 2015, to 83,700 tonnes.

According to a press release from UMG, 100% of the said volume of raw materials was shipped to Ukrainian producers of cement and concrete.

The company notes dry ash is used in the manufacture of concrete structures, dry building mixes and aerated concrete. Its use allows improving the technical characteristics of final products and saving natural components in their composition. At present the UMG customer base includes about 50 largest producers of this product in Ukraine.

The raw material base for dry ash supplies to UMG customers are five TPPs of DTEK, namely Kurakhove TPP, Kryvy Rih TPP, Ladyzhyn TPP, Burshtyn TPP and Dobrotvirska TPP.

UMG is a diversified holding company operating in commodity, industrial and trading areas. It was founded in 2006 as a clay extracting business.

KAZATOMPROM INTERESTED IN DEVELOPING NFC COOPERATION WITH UKRAINE

ASTANA. Aug 12 (Interfax-Ukraine) – Kazakhstan’s National Atomic Company Kazatomprom is interested in developing cooperation with Ukraine in various areas of the nuclear fuel cycle (NFC), including production of nuclear fuel in Kazakhstan for Ukrainian nuclear power plants (NPP), Kazatomprom has told Interfax-Ukraine.

The Kazakh Ministry of Energy and Kazatomprom plan to meet with the Ukrainian Ministry of Energy and Coal Industry to discuss cooperation in nuclear energy, Kazatomprom said.

The date of the meeting is yet to be approved, the company said.

Ukrainian Minister of Energy Ihor Nasalyk said earlier that Kazakhstan had expressed the intention to help Ukraine finish the construction of a nuclear fuel plant in Ukraine.

“I am flying to Kazakhstan on August 18. Among other things, we are going to discuss Kazakhstan’s participation in the final stage of the project for construction of a nuclear fuel plant in Ukraine,” he said.

Kazatomprom is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-use materials.

IDEA BANK’S PROFIT COMES TO UAH 11.568 MLN IN H1, 2016

KYIV. Aug 12 (Interfax-Ukraine) – The profit of Idea Bank (Lviv) in January-June 2016 amounted to UAH 11.568 million, while its loss in the same period in 2015 amounted to UAH 53.049 million.

According to a bank press release, its net interest income in the first half of this year increased by 8.1 times compared to the same period last year and amounted to UAH 217.067 million.

The bank’s assets in January-June this year increased by 4.2%, to UAH 2.905 billion, the loan portfolio amounted to UAH 2.19 billion.

Net worth increased by 61.8% and amounted to UAH 242.529 million. In April this year Idea Bank completed the next issue of shares and increased its capital by UAH 81.03 million.

Idea Bank was founded in 1989. The largest shareholder on January 1, 2016 was Getin Holding S.A. (99.522%).

Idea Bank ranked 39th among 109 operating banks on April 1, 2016 in terms of assets (UAH 2.735 billion), according to the National Bank of Ukraine.