Business news from Ukraine

Minister of Infrastructure: First ship with grain left port of Odessa

The Ministry of Infrastructure announced the departure of the first ship with 26,000 tons of Ukrainian corn from the sea trade port “Odessa”.
“The first ship with Ukrainian food left the port of Odessa,” Minister of Infrastructure of Ukraine Oleksandr Kubrakov wrote on his Facebook page.
Earlier, People’s Deputy of Ukraine (European Solidarity faction) Oleksiy Goncharenko in his telegram channel said that the first caravan of 16 dry cargo ships with grain from Ukraine would arrive in Turkey on August 3 this year.
As reported, on July 29, the ambassadors of the G7 countries in Ukraine arrived in Odessa to check the launch of the “grain corridor”.
On July 22, under the auspices of the UN, Ukraine and Turkey signed an agreement in Istanbul on the resumption of the safe export of Ukrainian grain across the Black Sea.
On the morning of July 23, Russian invaders attacked the Odessa Commercial Sea Port with Caliber cruise missiles. The Ukrainian Foreign Ministry said that the Russian Federation, with a missile attack on the port, questioned the agreements it had given to the UN and Turkey in the “grain” agreement. The UN chief unequivocally condemned reports of air strikes on Odessa, citing the commitments made by the parties at the signing ceremony in Istanbul.

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Ukraine, Turkey and the Russian Federation agreed on a 120-day grain export from the ports of Odessa, Chornomorsk and Pivdenny

Ukraine, Turkey and Russia, with the support of UN Secretary General António Guteres, agreed to facilitate safe shipping for the export of grain, related food products and fertilizers (including ammonia) from the seaports of Odessa, Chornomorsk and Pivdenny within 120 days from the possibility of extending this period.
The corresponding signing of documents within the framework of the initiative for the safe transportation of grain and food from Ukrainian ports took place in Istanbul on Friday: the Minister of Infrastructure of Ukraine Oleksandr Kubrakov, in the presence of Turkish President Recep Tayyip Erdogan, signed a tripartite document with Turkish Defense Minister Hulusi Akar and the UN Secretary General, who also signed a second such a tripartite document with Russian Defense Minister Sergei Shoigu.
As noted in the text of the initiative, a copy of which is available to the Interfax-Ukraine agency, it is based on agreements between the parties to the 1974 international convention on the safety of life at sea.
In particular, the parties agree on the following:
– maximum security guarantees for all vessels participating in this initiative;
– creation under the auspices of the UN in Istanbul of a joint coordination center (JCC), which includes representatives of all parties;
– Creation and work on the ships participating in the initiative of inspection teams from representatives of the parties, which will inspect the ships in the ports designated by Turkey, when entering / leaving the Turkish Strait to check the absence of unauthorized cargo and personnel on board.
At the same time, all activities in Ukrainian territorial waters will be under the control and responsibility of Ukraine.
The parties will not launch any attacks on merchant and civilian vessels, as well as on port facilities participating in this initiative.
If clearance of approaches to ports is required, a minesweeper from a third country must be involved
Merchant vessels must be pre-registered with the SKC and will be under technical control for the duration of their passage through the maritime humanitarian corridor agreed by all parties.
The RCC will develop and disseminate a detailed operational and communications plan, including the identification of safe havens and medical assistance options along the route.
In order to prevent provocations and incidents, the movement of vessels transiting the maritime humanitarian corridor will be remotely controlled by the Parties.
“No warships, aircraft, unmanned aerial vehicles (UAVs) can approach the maritime humanitarian corridor closer than the distance agreed by the RCC without the permission of the RCC and only after consultation with all Parties,” the text of the initiative emphasizes.
This initiative will be valid for 120 days from the date of signing by all Parties and may be automatically renewed for the same period, unless one of the Parties notifies the other of its intention to terminate the initiative or change it.
At the same time, the achievement of an agreement on the export of Ukrainian grain does not mean a weakening of the security regime in the Black Sea, representatives of Ukraine have repeatedly emphasized.

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As part of a stress scenario in the event of escalation of hostilities, the pharmaceutical company Interchem (Odessa) is increasing stocks of raw materials and forming additional reserves of finished products for a number of items, Director General of Interchem Anatoliy Reder has said.
“We have revised the calculation criteria and approaches to the formation of stocks of raw materials and products. For the most vulnerable stock items, we are taking all necessary measures to increase them, including allocating additional working capital for a prompt response to force majeure situations,” he told Interfax-Ukraine.
Raeder noted that recently there have been interruptions in the supply of raw materials and consumables. To a greater extent, they concerned imported products delivered by sea. However, at the same time, the top manager notes that this is a common problem for the entire pharmaceutical industry and for the Ukrainian business in general, which largely depends on external raw materials.
“I can’t say whether they are caused to a greater extent by the current political situation, or in general by global logistical problems, but today the arrival of a container with raw materials, which we expected to receive on February 15, has been postponed to February 23. I really hope that all the raw materials will arrive, as the passage of sea vessels has been resumed,” he said.
In addition, the Interchem CEO said that the company was also concerned about possible complications with the supply of raw materials, which were carried out by air freight transportation. For example, if insurance companies for cargo flights take measures similar to those they have taken in relation to passenger air travel.
“It is important for us that all directions and types of transport logistics function, since Interchem receives raw materials for production both by land, by air, and by sea,” he said.
Commenting on the issue of possible changes in the range of products, Reder noted that the company had already formed a production program and production volumes of a particular commodity item, taking into account its possible increased demand in the event of escalation of hostilities.
“We have several items that belong to the state reserve range, and for these items we have ensured the necessary stocks. They are maintained in sufficient quantities and do not depend on the needs of the open market, we will be able to immediately ship them as soon as necessary. This required additional effort and expense, but it had to be done,” he said.
In order to prevent “any kind of failure” in the production process, the company has optimized the work schedule: production has moved to a six-day work week with three shifts on weekdays. In addition, as part of the development of the stress scenario, Interchem revised a program of foreign business trips, developed an emergency plan for evacuation of employees and conservation of production, and also carries out complex equipment of a bomb shelter in one of the largest residential areas of Odessa on its own, Reder specified.
“I really hope that with such thoughtful actions we will be able to avoid a shortage of raw materials and ensure uninterrupted supply of products. After all, the main task of the company today is to mobilize as much as possible in order to ensure the stable operation of production and uninterrupted shipment of products. People should not have a reason to panic due to a shortage of essential goods, and especially medicines,” the CEO says.
Interchem is one of the leading pharmaceutical companies in the country. The company is a supplier of medicines for the programs of the Global Fund to Fight AIDS, Tuberculosis and Malaria.
Interchem is a member of the Association of Manufacturers of Medications of Ukraine.

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The hotel operator Ribas Hotels Group (Odesa) is launching a franchise program for the development of a chain of apart-hotels by Ribas in partnership with developers.
“As part of the partnership, the Ribas Hotels chain transfers all its technical standards and design projects to development companies, accompanies their design and construction departments and strengthens the marketing and sales department,” Ribas Hotels Group told Interfax-Ukraine.
According to the terms of the partnership, after commissioning, the hotel is transferred to the management of the Ribas Hotels Group. The sale of apartments is carried out during the construction of the object. The profitability from operating activities of hotels is estimated at 8-20% per annum.
According to the operator, the first apart-hotel of the WOL sub-brand, which will be further sold under a franchise, will open at 121 Fontanska Road Street in Odesa in February 2022.
According to Ribas, in 2022 the chain will be replenished with two more apart-hotels in Odesa and Lviv. At the same time, the company has not yet disclosed developer partners in these projects.
“Taking into account the market demand, the hotel operator plans to create only ten investment projects of apart-hotels in different regions of Ukraine,” Ribas Hotels Group said.
Ribas Hotels Group cooperates (management, franchising and booking) with 25 objects of the hotel and restaurant complex (city, beach and ski hotels). The company’s portfolio includes the business hotels Wall Street by Ribas and Bossfor by Ribas (Odesa), the ski hotel Ribas Karpaty (Bukovel, Ivano-Frankivsk region), the beach complex Richard by Ribas (Hrybovka, Odesa region). Hotels in Lviv, Kyiv, Odesa, and also in Poland are currently at the design and construction stage.
The total number of rooms in the network exceeds 1,000 in various forms of cooperation in eight cities and resort locations of Ukraine.
Ribas Hotels Group LLC was established in 2017. According to the data of the unified state register of legal entities and individual entrepreneurs, Artur Lupashko is the head and owner of a 100% share in the charter capital of the company.


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Hilton has entered into a franchise agreement with Gefest Group (the real estate developer, Odessa) on the implementation of a hotel project in Odessa, which is scheduled to open in the spring of 2025. According to a press release of Hilton, the hotel near the Arcadia entertainment area will be managed by Cyprus-based Millennium Hospitality. The new hotel will become part of the Hilton Hotels & Resorts chain.“There is clear opportunity for growth in Ukraine, with two hotels set to join our portfolio alongside Hilton Kyiv. Growing international interest in Odessa and robust domestic demand make Hilton Odessa an important addition to our European pipeline. We are pleased to be working with Gefest Group to introduce our flagship brand to southern Ukraine,” Senior Vice President for Development at Hilton Europe, the Middle East and Africa Patrick Fitzgibbon was quoted in the report. According to the report, the project provides for the construction of two buildings in Vanny and Primorsky lanes in Odesa. The hotel will have 145 rooms. The hotel infrastructure will include two swimming pools, one of which is panoramic, four restaurants and bars, a conference center (800 square meters), a banquet hall (300 square meters), a rooftop lounge area, and a spa center (600 square meters). Gefest Group was founded in Odessa in 1997. The company’s portfolio includes more than 40 office, retail and residential real estate projects in Ukraine and Europe at different stages of implementation.

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Qatar Airways, the national airline of Qatar, will launch flights from Doha to Odessa on December 9, which has become the second in Ukraine after Boryspil, where Qatari airlines will start operating.
According to the Odessa international airport’s Facebook page, the flights will be operated three times a week, namely on Tuesdays, Thursdays and Saturdays.
Departure from Doha to Odessa is scheduled for 08.30, arrival will be at 12.45. Departure from Odessa will be at 16.45, arrival in Doha at 22.50.

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