OTP Group plans to buy the Albanian subsidiary of Greek-based Alpha Bank for EUR55 million in the second quarter of 2022, the press service of the Ukrainian OTP Bank said.
According to the report, after the financial close of the deal, which is expected to take place in the second quarter of 2022, subject to regulatory approval, in terms of total assets, the market share of OTP Group in Albania will exceed 11%, and the size of the loan portfolio will increase by 1.5 times.
Alpha Bank is reported to be the eighth largest bank in Albania with a total market share of nearly 5% in terms of assets.
The UK will allocate an additional GBP 1 billion in support for Ukraine, which will go towards investment, trade and security, Ukrainian President Volodymyr Zelensky has said.
“Great news from London: UK will allocate an additional GBP 1 billion in support for Ukraine. That means new investments, trade, security. As a result of my negotiations with British Foreign Secretary Boris Johnson last year, the total volume of British support increases to GBP 3.5 billion,”- Zelenskiy said on Twitter on Wednesday.
The National Energy and Utilities Regulatory Commission (NEURC) at a meeting on December 1 approved a plan for the development of the electricity distribution system for Ukrzaliznytsia for 2022-2026, which provides for an investment of UAH 2.9 billion.
According to the plan, 76% of the UAH 2.9 billion should be invested in construction, reconstruction and technical re-equipment of power grids and equipment.
The main consumer of electricity, which is transmitted by the grids of Ukrzaliznytsia, as the operator of the distribution system, is transport. Over the past four years, the share of transport in the total structure of electricity consumption transmitted through the distribution system of the company was 80-83%.
Ukrzaliznytsia predicts an overall growth in demand for electricity in the next five years at the level of 0.45% annually.
At present, the total installed capacity of renewable energy installations (RES) connected to the grids of Ukrzaliznytsia is 143.35 MW.
According to the issued technical specifications, it is necessary to connect renewable energy generation facilities for another 301.93 MW to the distribution system of the company.
As reported, on September 30 Ukrzaliznytsia bought more than 4.9 million MWh of electricity at an auction from Energoatom state enterprise at a price of UAH 1,105/MWh, which the company should receive by the end of 2022 and use exclusively for its own needs.
China’s Beijing Skyrizon Aviation Industry Investment Co. has filed a lawsuit against Ukraine in the Permanent Court of Arbitration in The Hague, demanding %4.5 billion in compensation for the violation, in its opinion, of the Sino-Ukrainian intergovernmental agreement of October 1992 on protection of the company’s investment in Motor-Sich shares, the Chinese publication Global Times reported, with reference to Skyrizon.“Chinese investors have suffered significant losses both in Ukraine and in China due to five years of unfair treatment and continued use of illegal measures in Ukraine,” the newspaper reports.At the same time, information about the claim is not yet available on the website of the Hague Arbitration.Earlier it was reported that Skyrizon and other Chinese investors in Motor-Sich shares notified Ukraine of their intention to submit to international arbitration in early September 2020, and sent a direct request to the court in early December as there was no compromise with Kyiv. The initial amount of claims was %3.5 billion. The interests of the Chinese plaintiffs were represented by the international law firms WilmerHale, DLA Piper and Bird & Bird.PJSC Motor-Sich is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world. Last year, Motor-Sich received UAH 906.65 million in net profit against UAH 703.18 million in net loss in the previous year. The company’s revenue increased by 14.1% – up to UAH 11.432 billion.According to a source in the Ukrainian government, currently about 75% of Motor-Sich’s shares are already owned by a group of Chinese owners, and some part of the disputed block of shares acts as a pledge for financing provided, among other things, by China Development Bank.
Ukraine intends to retain the half of $2.7 billion received in August 2021 from the International Monetary Fund (IMF) during SDR distribution as a buffer against future risks, according to the Memorandum of Economic and Financial Policies of Ukraine signed with the IMF, published by the IMF and the Ministry of Finance on Wednesday.”While the deficit has remained in check, given large gross external financing needs including a significant amount of debt maturing that was issued at concessional rates, we have used about half of the recent general SDR allocation,” the government said in the memo. The government said that this will help to buttress our external stability objectives.
Kovalska Industrial and Construction Group has invested UAH 200 million in lime burning capacities, the press service of the group told Interfax-Ukraine.The company said that lime kilns were built in Rozvadiv, Lviv region. They will work 24/7, which will create additional 50 jobs. The new lime kilns will be part of the production complex, investments in which have already amounted to EUR 45 million.“We started the creation of a production cluster in Rozvadiv in 2020. It will include a quarry for extraction of high-quality sand, a plant for production of aerated concrete blocks, a plant for production of dry mixes and facilities for burning lime. This will create additional jobs and give additional acceleration to the economy of the entire country,” Director General of Kovalska Group Serhiy Pylypenko said.As reported, in 2020, Kovalska Group acquired an industrial complex with an area of 140 hectares in Rozvadiv, Lviv region. It includes: sand and limestone quarries, shaft kilns for calcining lime, a workshop for production of mineral powder and a plant for production of silicate bricks. Now in Rozvadiv, Lviv region, the construction of a plant for production of dry building mixtures of the Siltek brand is underway. The production capacity of the enterprise will be 150,000 tonnes of mixtures per year.Kovalska Industrial And Construction Group has been operating in the construction market of Ukraine since 1956. It is a leading manufacturer of construction materials, developer and builder of the country.
