KYIV. Nov 20 (Interfax-Ukraine) – The net profit of PJSC Turboatom (Kharkiv), more than 75% of which belongs to the state, in 2018 should be more than UAH 763 million, while output should grow by 6%, according to a press release of the State Property Fund of Ukraine, with reference to its head Vitaliy Trubarov.
The corresponding figures are stipulated in the company’s financial plan for 2018, approved by the government committee. The fiscal plan also provides for the share of exports of 37% and a 10% increase in administrative expenses, which should be used for raising wages.
As reported, in 2017 the net profit of PJSC Turboatom was UAH 1.165 billion.
According to Trubarov, Turboatom is to be put up for privatization next year, and now the Cabinet of Ministers is determining the share to be sold.
“The state owns 75.2% of the company’s shares. The government will determine what stake will be offered to investors – either it will be a controlling stake, a full package or partial, but the fund counts on the privatization of Turboatom,” Trubarov said.
KYIV. Nov 20 (Interfax-Ukraine) – Antonov State Enterprise (Kyiv) will modernize a heavy An-124-100 Ruslan aircraft with a cargo carrying capacity of 150 tonnes operated by Maximus Air (the UAE).
According to a report by the company press service on Facebook, the relevant contract was signed by the parties during the 15th international aerospace exhibition Dubai Airshow 2017 held in Dubai on November 12-16. The details of the upcoming modernization are not specified.
Under another contract with the UAE company, the Ukrainian developer will also carry out the maintenance of a transport aircraft, the press service said.
According to Antonov, during the negotiations within the framework of Dubai Airshow 2017 on the development of bilateral cooperation with the UAE’s partner, Maximus also highly appreciated the market prospects of an An-70 Ukrainian military transport aircraft with the maximum carrying capacity of 47 tonnes presented to potential customers at the exhibition.
“When discussing further cooperation, the director of this carrier company also expressed confidence in the broad prospects of the civilian version of An-70 aircraft in the world market of cargo air transportation,” reads the report.
KYIV. Nov 17 (Interfax-Ukraine) – The European Investment Bank (EIB) will issue a loan of EUR 130 million to Ukrenergo for modernization of substations, according to the website of the financial institution.
The corresponding project was approved by the financial institution on November 16.
The EIB said the project is aimed at improving energy efficiency, reliability of equipment, reducing operating costs. Its implementation will contribute to the integration of Ukraine’s energy system with the European Network of Transmission System Operators for Electricity (ENTSO-E).
The total cost of the project is EUR280 million.
As reported, Ukrenergo operates trunk and interstate power grids, as well as carries out the centralized dispatching of the unified energy system of the country. The company is a state enterprise subordinated to the Ministry of Energy and Coal Industry.
KYIV. Nov 17 (Interfax-Ukraine) – The League of Insurance Organizations of Ukraine (LIOU) backs the adoption of the bill amending the law on the specifics of insurance of agricultural products with government support (No. 6355), the authors of which are MPs Ivan Rybak, Hryhoriy Tymish, Mykola Liushniak and Anatoliy Kot (all from the Petro Poroshenko Bloc parliamentary faction), the LIOU has said on its website.
The LIOU believes that the implementation of the bill would provide for economic growth in agricultural production via the introduction of a transparent agricultural insurance tool as an effective tool for risk management, introduction of state planning and regular financing of subsidized agricultural insurance programs in Ukraine.
The LIOU opposes the creation of a state agency for agricultural insurance, as it is outlined in alternative bill No. 6355-1 of MP Fedir Nehoi (Petro Poroshenko Bloc). The league believes that it is inadmissible to elect a representative of the central executive power agency as chairman of the supervisory board of this agency, as this could result in the redistribution of the agricultural insurance market using non-market principles, entail administrative influence and other things.
The two bills were discussed at a meeting of the parliamentary committee for agricultural policy and land relations on November 14, 2017.
KYIV. Nov 17 (Interfax-Ukraine) – OTP Bank (Kyiv) has signed a cooperation agreement with Alfa Smart Agro, a manufacturer of plant protection products and micro fertilizers, in the field of lending to agricultural enterprises.
According to a bank press release, according to the terms of the program, agrarians can get loans from OTP Bank for the purchase of more than 60 types of plant protection agents produced by Alfa Smart Agro at a special rate of 12% per annum in the hryvnia. At the same time, a preliminary decision on financing is made within one day, while credit funds are available on the ninth working day.
The amount of financing can be up to UAH 8 million, and a pledge can be an agrarian receipt or a future crop, as well as the company’s assets.
“We are constantly working to expand the opportunities that Ukrainian agricultural producers can use in the framework of our strategic program of agro crediting OTP Agro-Factory. Now more than 40 farms have benefited from financing from OTP Bank, in particular to purchase raw materials through our partner programs,” head of the Agro-Factory project Ivan Yerko said.
According to him, OTP Bank together with the International Finance Corporation (IFC) implemented a simplified and accelerated approach to financing farmers under the Agro-Factory program, which provides farms that are engaged in growing grains and oilseeds and have the land bank from 500 hectares with access to money for sowing and harvesting campaigns.
