The Antimonopoly Committee of Ukraine (AMCU) has authorized Cliff Capital Growth Fund Vcic Ltd (Cyprus), a company associated with Kovalska ICG, to acquire a stake in Unit B04 LLC.
According to the committee’s decision of February 8, the Cypriot company received permission to acquire a stake that ensures exceeding 50% of the votes in Unit B04’s supreme management body.
Kovalska Group CEO Serhiy Pylypenko told Interfax-Ukraine that Kovalska Real Estate was the developer of B04.
“Now, by increasing our share in the property through a shareholder company, we intend to become the sole owner of this ultra-modern facility,” Pylypenko said.
According to Opendatabot, Cliff Capital Growth Fund Vcic Ltd currently owns 50% of the B04 building of the Unit.City innovation park. Another 50% is owned by Unit Holdings LLC, the ultimate beneficiary of which is businessman Vasyl Khmelnytsky.
As reported, the AMCU approved the acquisition of Kovalska’s stake in buildings B04 and B06 from Unit.City in 2021. The group planned to invest $70 million in the construction of five business centers in Unit.City – B01, B02, B03, B04, B06.
The Cliff Capital Growth investment fund is managed by Guardo Assets Management, which also manages the Aksioma, A Realty, AC Real, and Vingis funds.
Kovalska Industrial and Construction Group has been operating in the Ukrainian construction market since 1956. It unites more than 20 enterprises in the field of raw materials extraction, production and construction. Its products are represented by the brands Concrete by Kovalska, Avenue, and Siltek. Kovalska’s enterprises operate in Kyiv, Zhytomyr, Lviv, and Chernihiv regions. The aerated concrete plant in Kherson region has not been operating since the beginning of the occupation. The group also includes Kovalska Real Estate, which is engaged in the construction of residential properties in Kyiv. Its portfolio includes more than 20 completed residential projects.
Kovalska Group, which manufactured the bridge beams for the Degtyarivsky overpass, is ready for any inspection, said the group’s CEO, Serhiy Pylypenko.
As reported, on September 30, RDS Group of Companies was installing girders of the span on Oleksandr Dovzhenko Street in Kyiv by order of Kyivavtodor as part of the reconstruction of the Degtyarivskyi overpass. During the installation of the 7th girder in the design position, it lost its stability and led to the fall of the other 6 girders of the span structure. Kovalska ICG manufactured the bridge girders by order of the RDS Group as part of this project.
“We are ready for any inspection and will do our best to ensure that the construction of the overpass is completed no later than the scheduled date,” Pylypenko commented on the situation on Facebook on Sunday evening.
He said that the BM-36 bridge beams were manufactured in accordance with the design documentation and certified; each structure received a quality document approved by the Independent Bridge Inspectorate of Ukraine.
“These beams in their design position are capable of withstanding a load of 90 tons, which is 30% more than the design load, as proven by the protocols for studying the physical and mechanical properties of the structure. All the beams were loaded and delivered to the construction site, and the contractor accepted the products. The entire process of loading and delivery of the beams was documented. The collapse incident occurred during the installation of the seventh girder, when six were already in the design position,” Pylypenko said.
According to him, the available inspection data and evidence indicate that the problem arose during the installation of the beam, which for unknown reasons lost its design position, knocking down neighboring ones during the process. The choice of the installation method is determined by the contractor, in this case RDS, based on the project design, which clearly defines the type of mechanisms, lifting and installation technology with accompanying calculations.
He reminded that Kovalska Group has been producing reinforced concrete structures, including prestressed bridge beams, for decades.
“Thousands of buildings and infrastructure facilities, including bridges and overpasses, across the country are supported by Kovalska reinforced concrete. The quality and reliability of structures is the highest priority in our business. We have no doubts about the strength of the concrete, the implementation of reinforcement in accordance with the design and compliance with production technology,” he said.
Pylypenko emphasized that the company is ready for any inspections.
Kovalska Group has received EUR27m in project financing from Invest International (Netherlands) for 10 years to develop production of aerated concrete blocks and panels in Rozvadova (Lviv region), the group’s CEO Sergiy Pilipenko said.
“The vital investment, which was supported by the Dutch Good Growth Fund and the Dutch government, will allow the company to implement the technology of production of environmentally friendly aerated concrete blocks and panels Aircrete Europe. This technology will work at the new production facility, which is currently under construction in Rozvadov in Lviv region,” Pilipenko wrote on Facebook on Thursday evening.
According to him, the total amount of investment in the project is EUR42 million.
As reported, in 2020, Kovalska closed a deal worth UAH 63 million to acquire Rozvadov Stroymaterialy LLC, which owns a production complex with a total area of about 140 hectares.
In early 2022, Kovalska started construction of two new plants (Siltek-branded dry mixes and concrete production) in Lviv region, with an estimated total investment of over EUR60 mln for the first phase alone. The Group also expected to resume the realization of the project of construction of aerated concrete plant in the production complex in Rozvadov.
Kovalska Industrial and Construction Group has been operating in the construction market of Ukraine since 1956. It unites more than 20 enterprises in the sphere of raw materials extraction, production and construction. Products are represented by the brands “Concrete from Kovalska”, “Avenue”, Siltek. Kovalska enterprises operate in Kyiv, Zhytomyr, Lviv and Chernihiv regions. The aerated concrete plant in the Kherson region has been out of operation since the beginning of the occupation.
The group also includes Kovalska Real Estate, which builds residential projects in Kyiv. Its portfolio includes more than 20 completed residential projects.
Kovalska Industrial and Construction Group intends to invest $ 70 million in the construction of five business centers in the Unit.City innovation park, CEO of the group Serhiy Pylypenko has said at a press briefing.
“The Kovalska team will undertake the construction of a cluster, which, in particular, will include five business campuses with a total area of 70,000 square meters. Investments in the development of the innovation park from the group will exceed $70 million. The project is expected to be completed in four years,” a press release from the company says.
Pylypenko noted, joining the project as a 100% campus investor will allow the company to gain a foothold in the status of a professional commercial real estate developer.
All properties are expected to be certified according to the Leed Silver green standard. To develop the projects, Kovalska involved the Polish architectural bureau APA Wojcoechowski and the international engineering company TEBIN.
“Thanks to its financial, technical resources and its construction capabilities, Kovalska fully takes control of this project – from the concept to the completion of construction and management,” Pylypenko said, stressing that the company is a 100% investor in the project.
According to the founder of UFuture holding, Vasyl Khmelnytsky, who is quoted by the press service, the Unit.City project has been implemented only by 7%. Attracting powerful strategic partners to the development of this project will provide an opportunity to bring it to the global level in 2023.
The Kovalska industrial and construction group has finalized a deal to acquire Rozvadov Construction Materials LLC (Rozvadov, Lviv region), which owns a production facility located on around 140 ha, for UAH 63 million, the press service of the group reported on Tuesday.
The facility includes sand and limestone quarries, shaft furnaces for calcining limestone and a sand-lime bricks plant.
Sand deposits in the sand pit are estimated at almost 10 million cubic meters, the planned production volumes are 400,000-500,000 tonnes per year. Sand will be used to make Siltek dry mortar.
In addition, Kovalska plans to build another Siltek plant in the next two years on the acquired site. In addition, sand mined at the site will be sold in Western Ukraine.
According to the group, the limestone deposit has deposits at the level of 6 million tonnes. “Annually, it is planned to extract 200,000 tonnes of limestone, which will be processed at our own facilities and sold at enterprises throughout the country,” the press service added.
At the same time, to improve the quality, the sand processing and limestone calcining lines will be modernized, modern equipment for its pollution-free processing will be installed.
The Kovalska industrial and construction group has been operating in the construction market of Ukraine since 1956. The company is a leading manufacturer of building materials, developer and builder of Ukraine. The group unites nine manufacturers of building materials, which are known in Ukraine under the brands Concrete by Kovalska, Avenu, Siltek, and Granite by Kovalska.
JSC Kovalska Reinforced Concrete Structures Plant, part of Kovalska Industrial and Construction Group, has received permission to purchase Energy Product LLC, one of the largest manufacturers of aerated concrete in Ukraine, and intends to complete the deal by late September this year, the press service of group has told Interfax-Ukraine.
“This transaction is one of the largest in Ukraine in the construction market. We, as the market leaders, are interested in diversifying our business lines, expanding our regions and developing new types of construction materials. The aerated concrete market has a high development potential. This asset will allow us to further satisfy the needs of clients in assortment. According to the group’s strategy, we plan to continue expansion in the southern and western regions,” Serhiy Pylypenko, the director general of Kovalska Group, said.
Energy Product LLC (Nova Kakhovka) was established in 2013 and is the fourth largest producer of aerated concrete in Ukraine. The plant’s capacity is 450-500 cubic meters of aerated concrete per year.
Kovalska Industrial and Construction Group has been operating in the construction market of Ukraine since 1956. The company is the leading manufacturer of construction materials, the developer and builder of Ukraine.
