KYIV. Oct 29 (Interfax-Ukraine) – Izmail maritime merchandise port state enterprise (Odesa region) plans to attract investors to develop the port’s grain handling capacities, Head of the Infrastructure Development Service of the port Liudmyla Hirus has said.
“Since 2002 we’ve been working on the issue of special terminals and today we’ve finished only with technical offers where we discuss two land parcels not far from berth 12 with a gross area of around 1.5 ha and behind berth 26 with area of 3.2 ha,” she said at the investment forum “New projects of grain and oilseeds terminals at the ports of Ukraine” in Kyiv on Wednesday.
Hirus said that the option of a separate railway track to these parcels is foreseen. A capacity of up to 700,000 tonnes a year is planned for the first land parcel with the possibility of servicing vessels of up to 145 meters long and with the draft of up to 5.5 meters.
She said that the cost of the project for the first land parcel as of 2009 was estimated at UAH 27.1 million of capital investment. Today, it is UAH 81 million.
She said that the second site foresees two construction stages. Its capacity is 550,000 tonnes.
The cost of the project in 2001 was UAH 32 million, and today it is around UAH 100 million.
KYIV. Oct 28 (Interfax-Ukraine) – PJSC Kyiv Plant Radar in January-September 2015 saw its net profit rise by 7.3 times under international financial reporting standards (IFRS) compared to the same period in 2014, to UAH 870,000.
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, its net income for the first nine months increased by 2.4 times, to UAH 46.36 million.
In January-June 2015 Radar saw a net loss of UAH 4.72 million, while in the same period of 2014 the company posted a net profit of UAH 140,000, its net income in the first half of 2015 increased by 41.8%, to UAH 25.64 million.
Kyiv Plant Radar is a basic enterprise in Ukraine’s aviation industry which focuses on the production of airborne radar systems, navigation complexes, and special purpose equipment. It is a monopolist in the production of radar stations, including the Hroza, Buran, and 9B-1101K models.
KYIV. Oct 28 (Interfax-Ukraine) – Members of the Verkhovna Rada have proposed the reduction of value added tax (VAT) from 20% to 15% and the introduction of the automatic tax refund for all amounts confirmed by the electronic VAT administration system.
The provision is contained in the draft tax reform registered in the parliament by 114 deputies on October 26.
The bill provides for the abolition of restrictions on automatic VAT refunds, the introduction of public registration of applications for budgetary compensation, and the disclosure of information about the status of VAT refunds for certain taxpayers and the amount of VAT refunds they claimed. The MPs also proposed the introduction of compulsory VAT refunds according to the order of any given application.
The MPs also offered to solve the problem of the erosion of taxpayers’ working capital due to the increase of the “overdraft” incurred by monthly tax liabilities payable to the average monthly accrued tax liabilities of the taxpayer, as well as to introduce the possibility of recording tax bills late without any replenishment of VAT accounts via the changing the parameters of the formula.
The draft document also states that supervisory authorities should be banned from canceling the amount of tax credit on formal specifics: tax credit can be canceled if an error affects the individual tax number of taxpayers or if it is formed by non-taxable transactions.
KYIV. Oct 28 (Interfax-Ukraine) – Ukraine’s Minister of Foreign Affairs Pavlo Klimkin has stressed the importance of the documents signed between Ukraine and Italy in the context of the implementation of a free trade area (FTA) between Ukraine and the EU.
“The implementation of a free trade area between Ukraine and the EU will start in full from January 1 next year and, of course, we are working to use the entire potential, all the possibilities that will be laid in it,” he said at a briefing with Foreign Minister of Italy Paolo Gentiloni in Kyiv.
He expressed satisfaction that the Ukrainian and Italian parties in their cooperation covered various spheres of interaction.
“In the future we will move to cooperation with the involvement of the regions of Ukraine and Italy,” Klimkin said.
According to him, the documents signed by Ukraine and Italy on October 27 are the evidence of a fruitful work.
“This testifies about special attention we pay to the development of economic cooperation,” the Ukrainian foreign minister stressed.
KYIV. Oct 28 (Interfax-Ukraine) – The foreign ministries of Ukraine and Italy have agreed to cooperate on assisting small and medium businesses and agriculture.
According to an Interfax-Ukraine correspondent, three relevant documents were signed by Ukrainian Foreign Minister Pavlo Klimkin and Italian Foreign Minister Paolo Gentiloni.
The foreign ministers of the two countries signed the road map of cooperation between Ukraine and Italy for 2016-2017, the memorandum of understanding between the Ministry of Economic Development and Trade of Ukraine and the Ministry of Economic Development of Italy with respect to cooperation in the sphere of small and medium business sector, and a memorandum on cooperation in agriculture between the Ukrainian Ministry of Agricultural Policy and Food and the Italian Ministry of Agricultural, Food and Forestry Policies (the third document from the Ukrainian side was signed by Agriculture Minister Oleksiy Pavlenko).
KYIV. Oct 28 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) is mulling the provision of a $37 million loan to MV Cargo LLC to finance the construction of a grain terminal at Yuzhny port (Odesa region).
The EBRD said on its website that the total project cost is $130 million.
As reported, Cargill, the Ukrainian Sea Ports Authority and M.V. Cargo LLC have signed a tripartite memorandum of intent to realize an investment project at Yuzhny seaport.
The document confirms Cargill’s intention to acquire 51% in a transshipment terminal, which M.V. Cargo stevedoring company will build at Yuzhny seaport. Under the terms of the memorandum, before construction the Ukrainian Sea Ports Authority is to establish a water area on the approach to the terminal with an appropriate level of dredging.
The terminal will allow Cargill to handle grains, cereals and other goods. The capacity of the first phase of construction will amount to 5 million tonnes. The second phase would increase the capacity by another 2-4 million tonnes.
It is planned to launch the terminal in 2017.
