Business news from Ukraine

SEVEN HILLS DEVELOPER PLANS TO START BUILDING SECOND RESIDENTIAL COMPLEX IN KYIV

Exko Plus LLC (Seven Hills developer, Kyiv) of businessman of Israeli origin Beny Steinmetz plans to start implementing a project to build a business class residential complex located at 39/2 Henri Barbusse Street in the Pechersky district of Kyiv. “We continue believing in business class – the segment where we work. We see and feel that it is stable. Demand remains. We will continue working in this residential housing segment,” Seven Hills CEO Arie Schwartz said at the RED PM DAY 2018 conference held last week in Kyiv.
He told Interfax-Ukraine that the company’s primary task is to complete the construction of the last stage of the Park Avenue residential complex, scheduled for the first quarter of 2019, and then focus on the new project.
As expected, the new complex will be designed for 670 high-end apartments. The construction of this residential complex was announced back in 2008. Then the developer several times postponed the start of its implementation.
According to Schwartz, the company’s portfolio contains five sites in Kyiv for development, one of them is Park Avenue residential complex (located at 58A, Holosiyivsky Avenue) and one in the pipeline – in the Pechersky district (located at 39/2, Henri Barbusse Street).
“We thought that it will take about five years to build Park Avenue. Today it is 11 years, and we continue working on our other projects,” Schwartz said.
As reported, Seven Hills in 2009 announced plans to start implementing three construction projects in Kyiv city and region, in particular, the Podol A class office center and a premium-class residential complex in Kyiv and the Airport City office and warehouse complex in Kyiv region.
Exko Plus LLC was established in 2004, its main activity is the construction of residential and nonresidential buildings.
According to the unified public register, participants of LLC are Global Space Management Limited (90%) and Respublika investment fund (10%). The ultimate beneficiary is Steinmetz.

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TURKISH COMPANY WINS ROAD BUILDING TENDER

Onur Construction International has won a tender held by the Automobile Road Service in Dnipropetrovsk region to build a section of H-31 Dnipro-Reshetylivka road from the settlement of Loboikivka to the border of Dnipropetrovsk region with a price offer of UAH 427.9 million. According to the ProZorro e-procurement system, the expected cost of the project was UAH 436.5 million.
Along with Onur, Rostdorbud LLC was a bidder in the tender with the price offer of UAH 428 million, and two more companies were not allowed to participate in the tender.
The tender was announced in October 2017, although changes were made to the tender documents several times. The project is to be completed by late 2019.
According to the public register, Onur Construction International LLC is belonged to Onur and Ihsan Cetinceviz.

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VINN-AGRO-EXPORT INVESTS $12 MLN IN BUILDING ELEVATOR IN VINNYTSIA REGION

Vinn-Agro-Export LLC (Vinnytsia region) has begun the construction of an elevator with a capacity of 65,000 tonnes in the village Makharyntsi (Vinnytsia region). According to a report on the website of Vinnytsia Regional State Administration, in an hour the elevator will be able to accept up to 600 tonnes of grain and ship up to 300 tonnes. In addition, the company plans to build a railway track branch. In future, the elevator will ship up to 50 wagons a day.
The company also plans to build a laboratory to determine grain chemical and biological composition. The expected investment is $12 million.
Vinn-Agro-Export is engaged in wholesale of grain, untreated tobacco, seeds and animal feed. According to the unified state register of legal entities and individuals, Anatoliy Yarmolenko is the ultimate beneficiary of Vinn-Agro-Export.

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NATIONAL ENERGY COMPANY UKRENERGO AND SLOVAKIA’S SEPS AGREE ON BUILDING NEW POWER LINE TO BOOST POWER TRANSMISSION

National energy company Ukrenergo and the electricity transmission system operator SEPS (Slovakia) on October 2, 2018 agreed on building a new power line as an optimal solution for boosting power transmission between Ukraine and Slovakia, the press service of Ukrenergo has reported. “According to the agreements, a new 400 kV overhead line will be built, which will connect the existing 400 kV substations Mukachevo and Velke Kapusany in the single-circuit version with the possibility of further upgrading it to double-circuit in case of an increase in the volume of interstate flows,” the company said.
According to the press service, the project also envisages reconstruction of the 400 kV open switchgear at the Mukachevo substation. “In the next three or four years, at the Mukachevo 400 kV substation, it is planned to replace the existing 400/220 kV autotransformer (АТ-3) 400/220 kV (installed in 1964), as well as equipping the 400 kV complete switchgear with gas insulation,” Ukrenergo said.
Considering the condition of the existing 400 kV overhead line Mukachevo-Velke Kapusany, which has been operating since 1963, its modernization was recognized as inexpedient. The line will work until the launch of the new line.
The company recalled that this project is a candidate for projects of mutual interest (PMI), the list of which will be approved by the Council of Ministers of the Energy Community in the autumn of 2018.

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DUTCH BANK FMO CONSIDERS CREDITING OF SCATEC SOLAR PLANT BUILDING IN UKRAINE

The Dutch development bank FMO is considering the issue of up to EUR13.5 million for the construction of a solar power plant by Norway’s Scatec Solar in Ukraine, according to the website of the financial institution. FMO said the funds can be allocated within a syndicated loan, which is organized by the European Bank for Reconstruction and Development (EBRD). Scatec Solar plans at the expense of credit funds to build a solar plant with an installed capacity of 30 MW.
As reported, previously Scatec Solar signed an agreement with Rengy Development (Kyiv) on the joint implementation of projects for the construction of solar plants with a total capacity of 47 MW in Mykolaiv region. Scatec Solar has already built and operates 322 MW solar stations in various countries, while another 434 MW of photovoltaic plants are under construction.
The company operates in the Czech Republic, the Republic of South Africa, Rwanda, Honduras, and Jordan.

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TOUCHSTONE FROM UK INTERESTED IN BUILDING SOLAR, WIND POWER PLANT IN UKRAINE

Touchstone Capital Group (the U.K.) is interested in a project to build an offshore combined solar and wind power plant in Ukraine, the press service of Ukraine’s Energy and Coal Industry Ministry has reported after a meeting of profile specialists of the ministry with a delegation of the company. “At the meeting, representatives of the company presented a project for the offshore combined solar and wind power plant with a gigawatt power capacity, which is unique not only for Ukraine, but also for the nearest neighboring countries. Its additional advantage is the availability of its own balancing capacities, which will ensure a more even schedule of electricity production. The project also envisages the use of a significant (more than 30%) share of components of Ukrainian production,” the ministry said in a statement.
The ministry said that it is important that the implementation of these large projects occur in accordance with the actual state and the plan for the development of the electricity transmission system, and does not lead to deterioration in the operational security of the country’s power grid.
In turn, representatives of Ukrenergo at the meeting reminded: 70-80% of the projects for the construction of “green generation” is being implemented in the southern region of Ukraine (Zaporizhia, Kherson, Mykolaiv and Odesa regions), which is energy-efficient and simultaneously lacks maneuvering capacities.
Touchstone Capital Group is engaged in property management, development of projects in the field of renewable energy. The group operates funds from Chinese and other international investors.

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