Business news from Ukraine

Business news from Ukraine

IFC MAY ALLOCATE $55 MLN TO ZAPORIZHIA TO IMPROVE ENERGY EFFICIENCY

The International Finance Corporation (IFC) may provide Zaporizhia with a $55 million long-term loan to finance a package of initiatives aimed at improving energy efficiency, infrastructure development and transport logistics.
The board of directors plans to consider this project on February 15, 2021, the bank said on its website.
IFC plans to provide Zaporizhia with up to EUR 36.7 million of a loan from its own funds and to organize another EUR 18.3 million through the Managed Co-Lending Portfolio Program (MCPP).
It is assumed that the funds will be used for the installation of an intelligent traffic control system, street lighting and modernization of control centers, the purchase of electric buses, trolleybuses and related infrastructure, (reconstruction of traction equipment, substations, the purchase of road construction and cleaning equipment, as well as the reconstruction of roads and the development of public parks.
In addition, IFC will help develop a Smart City 2.0 strategy for Zaporizhia

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SKYUP PLANS TO LAUNCH FLIGHTS FROM UKRAINIAN ZAPORIZHIA TO LARNACA, PRAGUE

SkyUp (Kyiv) is planning to launch flights from Zaporizhia to Batumi (Georgia), Larnaca (Cyprus) and Prague (Czech Republic) at the end of spring to summer 2021.
The company’s press service said on Monday that tickets are available for purchase on the SkyUp website.
The airline also said that it has extended for the winter season flights on the Kyiv-Zaporizhia-Kyiv route, which it started operating from the new airport terminal on October 19.
“Government support for such important infrastructure projects that make passengers’ vacation more comfortable, also opens wide opportunities for increasing destinations, flight frequencies and potentially setting lower fares. We are grateful to the city and airport authorities for the honor of the first Ukrainian low-cost airline to operate the first flight,” the airline’s press service said, citing SkyUp CEO Dmytro Seroukhov.
As reported, the new terminal of Zaporizhia international airport started accommodating internal flights on October 19.

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HUNGARIAN WIZZ AIR PLANS TO LAUNCH FLIGHT FROM DORTMUND TO ZAPORIZHIA

The Hungarian low cost airline Wizz Air intends in August 2020 to launch a flight from Dortmund (Germany) to Zaporizhia, due to the opening of an air carrier base in Dortmund. According to Wizz Air’s press service, flights will start on August 2 and will be operated on Wednesdays and Sundays. Ticket price is from UAH 729.
In addition, the airline launches flights from Dortmund to Alghero, Bari, Catania, Naples, Athens, Corfu, Heraklion, Rhodes, Santorini, Thessaloniki, Fuerteventura, Lisbon, Marrakesh, Podgorica, Reykjavik, and Suceava.

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UKRAINE AND TURKISH ONUR SIGN CONTRACT FOR CONSTRUCTION OF BRIDGE IN ZAPORIZHIA

The State Agency of Automobile Roads of Ukraine (Ukravtodor) and the Turkish company Onur Taahhut Tasimacilik İnsaat Ticaret Ve Sanayi Anonim Sirketi (Ankara) have signed a contract for the construction of a bridge in Zaporizhia. According to an Interfax-Ukraine correspondent, the corresponding document was signed by Ukravtodor Head Oleksandr Kubrakov and the representatives of Onur Taahhut at a meeting on March 3.
“We expect that work will begin next week. The agreement that was signed is designed for four years, but we have our internal terms … We expect it to be two years,” Kubrakov said after the signing ceremony.
As reported, the Turkish company Onur Taahhut Tasimacilik İnsaat Ticaret Ve Sanayi Anonim Sirketi won a tender for the construction of a bridge in Zaporizhia with an offer of UAH 11.918 billion.
Onur Taahhut was founded in 1991. It is engaged in construction of roads, bridges, junctions, structures and road reconstruction work. The company has successfully implemented important projects in Croatia, Ukraine, Tunisia, Moldova, Oman, Equatorial Guinea, and Turkmenistan. It has experience in the implementation of construction and assembly works at infrastructure facilities throughout Ukraine.

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STATE-CONTROLLED UKRGASBANK ISSUES $14.5 MLN FOR BUILDING NEW TERMINAL AT ZAPORIZHIA AIRPORT

State-controlled Ukrgasbank (Kyiv) has issued $13 million and UAH 42.8 million for the construction of a new terminal at Zaporizhia airport, the financial institution’s press service has told Interfax-Ukraine. According to the report, the total cost of building the new terminal amounted to UAH 1.085 billion.
“Further borrowing needs from the borrower have not been announced at the moment,” the press service of Ukrgasbank said.
As reported, in December 2019 Zaporizhia completed the construction of a new airport terminal and in March 2020 they plan to open it for passengers.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
Ukrgasbank ranked fourth among 76 banks operating in the country on October 1, 2019 in terms of total assets (UAH 114.133 billion), according to the National Bank of Ukraine.

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HUNGARY’S LOW COST WIZZ AIR LAUNCHES SIX FLIGHTS FROM ZAPORIZHIA

The Hungarian low cost airline Wizz Air Holdings Plc launches flights from Zaporizhia to Gdansk, Wroclaw, Krakow (all from Poland), Vienna (Austria), and Vilnius (Lithuania).
This was announced by Human Resources Director at Wizz Air Holdings Plc Johan Eidhagen during a press conference in Kyiv.
According to him, flights will be operated twice a week, in particular, to Gdansk on Mondays and Fridays (from March 30), to Wroclaw on Wednesdays and Sundays (from March 29), to Budapest on Thursdays and Sundays (from March 29), to Vienna on Thursdays and Sundays (from March 29), to Krakow on Wednesdays and Sundays (from March 29), to Vilnius on Mondays and Fridays (from March 30). Their cost is from UAH 569 one way.
“We are always trying to find “diamonds” that have not yet been processed. This is one of the examples when the airport [of Zaporizhia] has developed so much over the past couple of years. There is a great potential for further growth there,” he said.
Wizz Air, the largest low cost carrier in Central and Eastern Europe, offers flights on more than 600 routes from 25 bases, connecting 145 destinations in 44 countries. The airline fleet consists of 120 Airbus A320 and Airbus A321 aircraft.
By the end of 2019, the company intends to carry 40 million passengers.

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