Business news from Ukraine

“Energoatom” announces tender for motor vehicle liability insurance

On July 26, Energoatom (Kyiv) announced a tender for compulsory motor vehicle liability insurance for owners of land vehicles.

According to the Prozorro electronic public procurement system, the total expected cost is UAH 99.944 thousand.

The deadline for submitting documents for the tender is August 4.

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“Energoatom” announced tender for CMTPL insurance

The state enterprise “NAEK “Energoatom” (Kiev) on June 29 announced a tender for compulsory motor third party liability insurance of owners of land vehicles (MTPL).
As reported in the electronic public procurement system Prozorro, the total expected cost of 1.083 million UAH.
The deadline for submission of documents for the tender is July 11

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Cabinet approves plan for corporatization of Energoatom

The Cabinet of Ministers at its June 27, 2023 meeting approved a plan to transform the state-owned NNEGC Energoatom into a joint stock company with 100% of its shares owned by the state, the company reported in Telegram.
“This is another step in fulfilling Ukraine’s international obligations to bring the management of state-owned enterprises in line with the best international standards of corporate governance,” the NAEC commented.
According to the Ministry of Economy of Ukraine, during June-July 2023 a complete inventory of the property of the enterprise should be conducted and a company for an independent assessment of the property should be selected.
In November, the act of property assessment should be approved, drafts of government decisions on the approval of the transfer act of the property in the charter capital of the JSC should be prepared;
The issue of Energoatom shares is scheduled for December, while the process of transforming the state-owned enterprise into a JSC is expected to be completed by March 2024.
As reported with reference to Peter Kotin, president of Energoatom, NAEC expects to complete corporatization of the company, according to optimistic estimates, in six months, according to pessimistic estimates – in a year.
“There are a lot of processes going on right now and the main one is to conduct an inventory of all assets as well as to collect creditors’ appeals. This is not an easy procedure,” he said in mid-June.
At the same time, he specified that with regard to the Zaporizhzhia NPP occupied by the Russian invaders “we will use the preliminary, pre-war inventory data for now, and then (when the plant returns under the control of Ukraine – IF-U) we will adjust”.
At the beginning of May the Cabinet of Ministers started the procedure for reorganization of the state enterprise by means of its transformation into the National Atomic Energy Generating Company Energoatom JSC, 100% shares in the authorized capital of which belong to the state and are not subject to privatization or alienation by other means.
The Cabinet of Ministers also created a commission for Enerhoatom’s transformation and approved its composition, set a two-month deadline for lenders to file their claims against the company, and formed an inventory commission.
Before that, on March 17, 2023, President Vladimir Zelenski signed the law “On the peculiarities of formation of the joint stock company NAEK Energoatom.
“Energoatom” is the operator of all four operating NPPs in Ukraine. It operates Zaporizhzhya, Pivdenno-Ukrainian, Rivne and Khmelnitsky plants with 15 power units equipped with water-water power reactors, with a total installed electric capacity of 13.8 GW. The 6GW ZNPP has been under Russian occupation since May 4, 2022.

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Energoatom’s corporatization may take place in six months – opinion

NNEGC Energoatom expects to complete corporatization of the enterprise, according to optimistic estimates, in half a year, according to pessimistic estimates, in a year, said the president of the company Petr Kotin.
“Energoatom’s corporatization is moving at quite a fast pace. According to pessimistic estimates, it will take us a year to be fully corporatized. On the optimistic side, half a year. There are many processes going on now; one of them is the stocktaking of all assets and collection of creditor claims. This is not an easy procedure,” said Mr. Kotin in his interview to journalists during visit of one of the NPPs.
At the same time, he specified that with regard to the Zaporizhzhya NPP occupied by the Russian invaders “we will use preliminary, pre-war inventory data for the time being, and then (after the return of the plant under Ukrainian control – ER) we will adjust.
As reported, at the beginning of May the Cabinet of Ministers reorganized the state enterprise by transforming it into the National Nuclear Energy Generating Company Energoatom, 100% of the shares in the authorized capital of which belong to the state and are not subject to privatization or alienation in any other way.
As noted by the Prime Minister of Ukraine Denis Shmygal, it will improve the efficiency of management, attract additional funds for new projects and strengthen energy independence.
The Cabinet of Ministers also created a commission for Energoatom’s transformation and approved its composition, set a two-month deadline for lenders to file their claims against the company, and formed an inventory commission.
Before that, on February 6, 2023, the Verkhovna Rada of Ukraine passed the draft law 8067 on corporatization of the state-owned enterprise Energoatom during the second reading.
The corporatization of Energoatom is stipulated by the loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and the guarantee agreement “The Integrated Generalized Program of Nuclear Power Plants Units Safety Enhancement,” ratified by Verkhovna Rada.
“Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates Zaporizhzhya, Pivdenno-Ukrainian, Rivne and Khmelnitsky power plants with 15 power units, equipped with water-water power reactors, with total installed electric capacity of 13,8 GW. The 6GW ZNPP has been under Russian occupation since May 4, 2022.

Energoatom’s corporatization may take place in six months – opinion

NNEGC Energoatom expects to complete corporatization of the enterprise, according to optimistic estimates, in half a year, according to pessimistic estimates, in a year, said the president of the company Petr Kotin.
“Energoatom’s corporatization is moving at quite a fast pace. According to pessimistic estimates, it will take us a year to be fully corporatized. On the optimistic side, half a year. There are many processes going on now; one of them is the stocktaking of all assets and collection of creditor claims. This is not an easy procedure,” said Mr. Kotin in his interview to journalists during visit of one of the NPPs.
At the same time, he specified that with regard to the Zaporizhzhya NPP occupied by the Russian invaders “we will use preliminary, pre-war inventory data for the time being, and then (after the return of the plant under Ukrainian control – ER) we will adjust.
As reported, at the beginning of May the Cabinet of Ministers reorganized the state enterprise by transforming it into the National Nuclear Energy Generating Company Energoatom, 100% of the shares in the authorized capital of which belong to the state and are not subject to privatization or alienation in any other way.
As noted by the Prime Minister of Ukraine Denis Shmygal, it will improve the efficiency of management, attract additional funds for new projects and strengthen energy independence.
The Cabinet of Ministers also created a commission for Energoatom’s transformation and approved its composition, set a two-month deadline for lenders to file their claims against the company, and formed an inventory commission.
Before that, on February 6, 2023, the Verkhovna Rada of Ukraine passed the draft law 8067 on corporatization of the state-owned enterprise Energoatom during the second reading.
The corporatization of Energoatom is stipulated by the loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and the guarantee agreement “The Integrated Generalized Program of Nuclear Power Plants Units Safety Enhancement,” ratified by Verkhovna Rada.
“Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates Zaporizhzhya, Pivdenno-Ukrainian, Rivne and Khmelnitsky power plants with 15 power units, equipped with water-water power reactors, with total installed electric capacity of 13,8 GW. The 6GW ZNPP has been under Russian occupation since May 4, 2022.

Ukrainian authorities started corporatization of Energoatom

The Cabinet of Ministers at a meeting supported a decision that gives start to the procedure of transforming the state-owned company NAEK Energoatom into a joint stock company, the government portal reported with reference to Prime Minister Denis Shmygal on Tuesday.

“Energoatom is one of the largest operators of nuclear power plants in Europe, the company is strategically important for the energy security of the state. We`re bringing it in conformity with international standards of corporate management. At the same time the state retains 100% ownership of the plant,” he said.

According to Prime Minister, eventually it will increase the efficiency of management, will attract additional funds for implementation of new projects and will strengthen energy independence.

As reported, the Verkhovna Rada of Ukraine on February 6, 2023, supported the draft law 8067 on corporatization of the state-owned enterprise Energoatom, which provides for the transformation of Energoatom from a state-owned enterprise into a joint stock company with 100% state-owned shares.

Energoatom’s corporatization is envisaged by the loan agreement between the company and the European Bank for Reconstruction and Development (EBRD) and the guarantee agreement “Complex Generalized Safety Upgrade Program for Nuclear Power Plants,” ratified by the Supreme Council.

“Energoatom is the operator of all four operating nuclear power plants in Ukraine. It operates the Zaporizhzhya, South Ukraine, Rivne and Khmelnitsky plants, with 15 power units equipped with water-water power reactors, with a total installed electric capacity of 13.8 GW.