Business news from Ukraine

TOP-30 COUNTRIES EXPORTERS TO UKRAINE

Source: State Statistics Services

Source: State Statistics Services

POROSHENKO DISCUSSES INVESTMENT WITH U.S. SECRETARY OF COMMERCE

KYIV. April 1 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has met with U.S. Secretary of Commerce Penny Pritzker in Washington DC to discuss investments in Ukraine.
“The head of state informed on the course of reforms in Ukraine, which provides new opportunities for the involvement of American investments in the Ukrainian economy,” the Ukrainian presidential press service said.
The interlocutors also discussed the attraction of U.S. loans. The U.S.
secretary of state pledged assistance in the boosting of operations of the Export-Import Bank of the United States and the Overseas Private Investment Corporation (OPIC) in Ukraine.
According to the report, Pritzker backed Poroshenko’s initiative to create a National Investment Council with the participation of leading U.S.
companies.

SEVERODONETSK IMPULSE RESEARCH CENTER SEEKS TO EXPORT GOODS TO EUROPE BY MID-2016

SEVERODONETSK. March 31 (Interfax-Ukraine) – Severodonetsk-based Impulse research center (Luhansk region) seeks to certify its automatic equipment for railways in Europe by the middle of 2016, Head of the supervisory board Volodymyr Yeliseyev said in Severodonetsk on Wednesday.

“We’re certifying our products in European test laboratories to have a chance to supply them to their markets… By the middle of this year we will obtain a certificate for railways and later for other products,” he said.

Yeliseyev said that the enterprise also intends to certify its own laboratory. The issue has been postponed due to a lack of working capital.

Impulse produces teleautomatic and automatic equipment for railways.

Yeliseyev said the enterprise is preparing some new solutions for railways. He said that this is interesting not only for Ukrzaliznytsia, but also for private companies with their own railway infrastructure, for example quarries and ports.

LKMZ, KHARKIV TRACTOR PLAN RESUME COOPERATION

KYIV. March 31 (Interfax-Ukraine) – Lozova Forging-Mechanical Plant (LKMZ, Karkiv region), part of the UPEC industrial group, has resumed supplies of spare parts to Kharkiv Tractor Plant, the press service of the UPEC Group reported on Wednesday.

“Under the agreement signed, LKMZ supplies spare parts to load the Kharkiv Tractor Plant’s conveyor in full. In March the plant produced and supplied over 90 tractor kits to the Kharkiv Tractor Plant. The Kharkiv plant ordered 20 more kits this month. According to the pessimistic scenario, shipments of tractor kits to the Kharkiv Tractor Plant in 2016 could reach 2,000 dual ratio drive axles and other elements of the gearing system,” the press service said, citing LKMZ Director General Vasyl Chernomaz.

LKMZ supplied tractor kits to the Kharkiv Tractor Plant before 2013. The Kharkiv plant then decided not to buy Ukrainian kits and selected Chinese kits.

In September 2014, the companies announced the resumption of cooperation.

The companies failed to resume substantial cooperation in 2014-2015.

VINNYTSIA AGRARIAN-INDUSTRIAL GROUP SEEKS TO BUILD OILSEED CRUSHING PLANT

KYIV. March 31 (Interfax-Ukraine) – The Vinnytsia Agrarian-Industrial Group seeks to build an oilseed crushing plant with a daily capacity of 1,000 tonnes of oilseeds.

“We plan to raise $20 million. The funds are needed to expand the land bank, attract additional machinery and build a crushing plant near our elevators,” Company Director Volodymyr Bartsos said in an interview with the Forbes Ukraine publication.

Bartsos added that if the holding manages to raise more funds, its land bank could be expanded by 15,000 ha every year.

The Vinnytsia Agrarian-Industrial Group is a large agricultural producer. It cultivates around 50,000 ha in Vinnytsia and Khmelnytsky regions. The group has four elevators with a total storing capacity of 250,000 tonnes.

UKRAINE, AUSTRALIA WILL SIGN AGREEMENT ON URANIUM SUPPLY IN WASHINGTON

KYIV. March 31 (Interfax-Ukraine) – Minister of Energy and Coal Industry of Ukraine Volodymyr Demchyshyn at the Nuclear Security Summit held in Washington from March 31 to April 2 will sign an agreement between the governments of Ukraine and Australia on cooperation in the field of nuclear energy use for peaceful purposes.

“In particular, the agreement concerns uranium supplies from Australia to Ukraine for the nuclear energy sector,” reads a report by the ministry.

According to him, the Ukrainian minister will also meet with U.S. Secretary of Energy Ernest Moniz.

The ministry said the Ukrainian delegation headed by President of Ukraine Petro Poroshenko will participate in the plenary session, entitled “National measures in the field of strengthening nuclear security.” The delegation will discuss measures to prevent nuclear incidents during other summit events.

Demchyshyn in October last year reported that Ukraine is in talks with Kazakhstan and Australia for purchase of uranium concentrate to diversify its supplies.

The annual needs of Ukrainian nuclear power plants for uranium concentrate are about 2,400 tonnes, while its internal production by state enterprise VostGOK in 2015 is planned in the amount of 1,200 tonnes.