Business news from Ukraine

KYIVSTAR PROVIDES POSSIBILITY TO REMOTELY SWITCH TO OPERATOR’S CONTRACT TARIFF

Kyivstar mobile operator launches the possibility to switch to the company’s contract tariff remotely, one can order free courier delivery of SIM cards and contracts throughout Ukraine.
According to the operator’s press release, both existing Kyivstar subscribers and new customers who decide to join the national telecoms operator’s network can use this service.
“For this, it’s enough to choose the best contract rate in the Kyivstar online store at shop.kyivstar.ua and place the delivery. During its confirmation, subscribers will be able to immediately enter all the necessary data to sign an agreement and receive an already completed document for signing. Delivery will be carried out at a time convenient for the subscriber by prior agreement,” Kyivstar noted.
Subscribers, in particular, can choose one of the Smart tariffs, which provide unlimited mobile Internet, unlimited times for calls in the network, from 120 to 3,000 minutes for calls to other numbers within Ukraine, as well as abroad, fixed Internet and other services at no extra charge.

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NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 43%

The number of Green Card international insurance contracts signed by the member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 43.23% in January-November 2019 compared to the same period in 2018, to more than one million.
According to the MTIBU’s website, the amount of accrued insurance premiums for the specified period increased by 28.05% compared to the same period last year, to UAH 1.541 billion.
At the same time, the amount of compensation paid on claims rose by 30.26%, to EUR 13.664 million, while the number of claims paid grew by 14.14%, to 5,296.
The MTIBU is the only association of insurers that carry out compulsory insurance of vehicle owners’ civil liability for damage caused to third parties.

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VELTA INDUSTRIAL AND COMMERCIAL FIRM WITH TITANIUM ORE PRODUCTION ASSETS IN UKRAINE SIGNS $100 MLN CONTRACT WITH LUXEMBOURG TRAXYS

Velta industrial and commercial firm LLC with titanium ore production assets in Ukraine (Kirovohrad region) has agreed to supply $100 million of ilmenite, a titanium feedstock, under a five-year supply contract with the Traxys Group, a global commodity trading group, aimed at meeting the needs of the North American market.
Velta said in press release that it has been working in the U.S. market for seven years.
“Given that North America is one of the most stable and fast growing markets, we have decided to enter a longer-term contract, which will ensure additional stability of the company’s operations,” CEO of Velta Andriy Brodsky said.
He said that the main competitive advantage of Velta is that the company produces high-quality high-titanium feedstock, which is currently scarce in the world and in great demand in the U.S. market.
“Titanium Dioxide pigment is a core business of our group. We are pleased to partner with such a high quality and reliable miner as Velta,” Traxys Head of Industrial Minerals Eli Skornicki said.
According to the press release, the ultimate consumer under the contract is Chemours. Chemours is a new kind of chemistry company driven by their purpose to create a more colorful, capable, and cleaner world through the power of chemistry. Chemours is one of the world’s largest manufacturers of titanium dioxide (TiO₂). The company’s Ti-Pure™ brand delivers industry-leading innovation to address the growing worldwide demand for high-quality TiO₂ by developing brighter, more efficient pigments for the coatings, plastics, and laminates markets. Its annual sales exceed $6.5 billion. Chemours employs more than 7,000 people worldwide.
Traxys, headquartered in Luxembourg, is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management and trading activities are conducted by over 400 employees, in over 20 offices worldwide, and its annual turnover is in excess of $7 billion. The group serves a broad base of industrial customers and offers a full range of commercial and financial services.
Velta LLC has been mining and processing titanium feedstock at Byrzulivske deposit in Kirovohrad region since 2012. The company also holds a license for the industrial development of Likarivske deposit with similar feedstock. From 2012 to 2019, Velta mined 1 million tonnes of ilmenite. The total number of jobs exceeds 500. Velta founded a research and development center Velta RD Titan that works on creating new methods for processing titanium feedstock.

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GAS TRANSMISSION SYSTEM OF UKRAINE STARTS TRANSPORTING RUSSIAN GAS UNDER NEW CONTRACT WITH GAZPROM

Gas Transmission System Operator of Ukraine (GTSOU), which replaced Ukrtransgaz as the operator of the Ukrainian gas transmission system on January 1, 2020, has reported continuation of Russian gas transit under the new agreement reached between Russia’s Gazprom and NJSC Naftogaz Ukrainy in furtherance of the previous ten-year contract.
“We have transported the first cubic meters of gas to the EU under the new gas contract consistent with European regulations. The gas transmission system is operating normally,” the operator said in a statement on Facebook on Wednesday.

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STATE-OWNED ENERGOATOM AND TURBOATOM SIGN FIVE-YEAR CONTRACT FOR MODERNIZING UKRAINIAN NPPS

State-owned enterprise National Nuclear Generating Company Energoatom and JSC Turboatom (Kharkiv) signed the five year (2020-2024) program on modernizing equipment of Ukrainian nuclear power plants (NPPs) on Tuesday.
According to a press release of Energoatom, the program involves the replacement of eight turbine condensers of nuclear power reactors, including four Russian-made condensers. After replacing the condensers, the total increase in power of reactors will be about 400 MW.
The document also provides for the modernization of flowing parts of turbine cylinders with a capacity of 200 MW and 1000 MW, including five turbines with a capacity of 1000 MW as part of import substitution. Modernization includes the replacement of rotor blades on existing rotors and diaphragms, which will increase the turbine’s power and its efficiency.
It is also planned to upgrade the high-pressure cylinders of the turbines of the Zaporizhia NPP, starting in 2020. Modernization of turbines will increase the capacity and efficiency of existing reactors of Ukrainian NPPs by 10%, which will provide a power increase of 70-100 MW at each reactor.
In addition, on Tuesday in Enerhodar (Zaporizhia region), an agreement was signed between Atomkomplekt (a separate division of Energoatom) and Turboatom for the manufacture and supply of a block-modular condenser for replacing the condenser of the K K-1000-60/1500 turbine at reactor five of Zaporizhia NPP in April 2020.
The parties also discussed a long-term repair program for the replacement of used spare parts.
“Four years ago, we gave a new powerful start to our cooperation, which is not only servicing the turbine park, but also the replacement and modernization of equipment. This will allow us to increase and improve the efficiency of nuclear power plants, to increase the generation of electric energy, which is important in conditions a new market, when every additional kilowatt-hour produced gives additional income,” Energoatom President Yuriy Nedashkovsky said.
According to the CEO of Turboatom Victor Subbotin, the volume of modernization at Energoatom for five years will exceed UAH 6 billion, which is a significant contribution to the utilization of production capacities and personnel of the enterprise.

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NORSK SOLAR FROM NORWAY SIGNS CONTRACT WITH UKRAINIAN CONTRACTOR FOR BUILDING SOLAR POWER PLANT NEAR KYIV

Norway’s Norsk Solar has signed an agreement with the Voltage Group Ukrainian Company for designing and building of a 9 MW solar power plant near the town of Brovary in Kyiv region, the Nordic Environment Finance Corporation (NEFCO) reported on its website. According to the NEFCO, Voltage Group developed design documentation for construction of the solar plant on a total land area of 12.6 hectares.
The plant, which is located in the village of Semypolky, is to be commissioned at the end of 2019.
As reported, the NEFCO will lend EUR 4.35 million to Norway’s Norsk Solar for the construction of the plant, while Norsk Solar will issue another EUR 4.35 million.
The project owner and majority equity contributor, Norsk Solar AS, is part of the Norsk Vind group.
Norsk Solar is owned by Norwegian Lars Helge Helvig.
Ukrainian SPP will be the second such kind of a project for the company.

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