Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.
“Arricano is pleased to announce it has entered into negotiations to sell two of its properties in its property portfolio, Sun Gallery (located in Kryvyi Rih, Ukraine) and City Mall (located in Zaporizhzhia, Ukraine),” reads an announcement of the company posted on London Stock Exchange (LSE) on July 31.
The developer said it has entered into non-binding heads of terms with Dragon Capital Investments Limited and with other parties in relation to such sale.
“A sale of the properties is a part of Arricano Real Estate PLC global strategy, due to which received funds will be meant for the development of portfolio and strengthening of the company’s positions,” Arricano CEO Mykhailo Merkulov told Interfax-Ukraine.
According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.
On Tuesday, July 23, at 16.00, the press center of the Interfax-Ukraine news agency will host a press conference entitled “ArcelorMittal Kryvyi Rih on Radiation Measurements and SBU’s version.” Participants include: Acting Chief Executive Officer of PJSC ArcelorMittal Kryvyi Rih Aleksandr Ivanov and General Legal Counsel of PJSC ArcelorMittal Kryvyi Rih Artyom Filipyev (8/5a Reitarska Street). Journalists must be accredited by phone: +38 067 639 8495.
PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) has extended its wagon fleet by 2.5 times, commissioning 450 new high-sided wagons received under a financial leasing scheme. According to a press release of ArcelorMittal Kryvyi Rih, at the beginning of 2018 the enterprise received 50 new cars: thus, this year the company has commissioned 500 wagons to transport its metal products and supply raw materials to the plant.
At the same time, it is noted that as a result its own fleet has increased by 2.5 times, which allows the company to carry out about 10-15% of its transportation independently, regardless of the situation in the railway market and the availability of wagons. This will help reduce the cost of delivering outgoing and incoming goods, as well as give an opportunity to consider new directions of metal products and iron ore concentrate transportation for exports.
All new wagons for the enterprise are manufactured by PJSC Dniprovahonmash, which is one of the participants in the signed agreement under the scheme of financial leasing.
ArcelorMittal Kryvyi Rih is the largest producer of steel goods in Ukraine. It specializes in production of long goods, in particular, fittings and wire rod.
PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) after a radical modernization by 2025 will become a modern European enterprise, Director General Paramjit Kahlon told the employees of the plant on occasion of the 84th anniversary of its establishment. “I am sure that by 2025 we will have a modern European plant in accordance with all European standards, with minimal emissions of pollutants, with a very high level of productivity, with very low production costs and with the generations, who will then link their lives with metallurgy and this enterprise,” the top manager said.
At the same time, he stressed that the company is not standing still, is developing, and this gives hope for its future. “Once this modernization is completed, we will work in a new way,” the head of the enterprise is convinced, urging everyone to be participants in these changes and become architects of the success story that the administration is trying to create. According to Kahlon, ArcelorMittal Kryvyi Rih has three main goals: the first one is the modernization of the enterprise, still with an emphasis on ecology and environmental protection. The second one is the development of personnel and training new generations, the third one is partnership with the public.
The head of the company in December 2017 reported that ArcelorMittal Kryvyi Rih intended to invest $250 million annually in the renewal of production until 2025.
