Business news from Ukraine

POLISH COMPANIES PLAN TO INVEST IN ELECTRICITY IMPORTS FROM UKRAINE

Orlen Synthos Green Energy, established by the Polish PKN Orlen and Synthos Green Energy, plans to implement an investment project that will allow importing electricity from Ukraine, according to a statement on the PKN Orlen website.
“Electricity that could be transferred to Poland will come from the Khmelnytsky NPP in Ukraine. Its import based on the modernized infrastructure will help meet the needs of the Polish industry and reduce Poland’s dependence on hydrocarbon-based energy sources,” the company informed.
At the same time, Orlen Synthos Green Energy is called upon to carry out the process of technical measures necessary for the implementation of this project.
“This is another project that Orlen Synthos Green Energy plans to invest in,” PKN Orlen emphasized.
In particular, the company will also be responsible for the preparation and commercialization of micro and small nuclear reactor (MMR and SMR) technologies in Poland.

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LARGEST SUGAR PRODUCER IN UKRAINE TO INVEST $15 MLN IN NEW SILO CONSTRUCTION

Agroholding Astarta, the largest sugar producer in Ukraine, is investing $15 million in the construction of a new silo in the city of Chernihiv. The decision of the board of directors of the group of companies was published on the Warsaw Stock Exchange (WSE) on Wednesday evening.
According to Astarta, the construction of this facility will will further strengthen the company’s network of seven grain and oilseeds handling facilities and expand its reach to Chernihiv region.
The total capacity of simultaneous storage of grain and oilseeds will be 70,000 tonnes. Commissioning of the first stage of the silo with a capacity of 58,000 tonnes is scheduled for July 2022.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine.

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BAYKAR PLANS TO INVEST IN DRONE PRODUCTION IN UKRAINE

The Turkish manufacturer of drones Baykar is developing an investment project to build a research center for advanced technologies in aerospace engineering and a production center for drone assembly in Ukraine, Deputy Director General for Investments Natalya Ozden has said.
“Baykar intends to invest in Ukraine, and is currently developing a corresponding investment project,” she said during the International Defense Investment Forum in Kyiv.
According to her, the project provides for 100% investment by Baykar in the creation of a new research and development center, the creation of production facilities and drone assembly, as well as maintenance and repair shops with accompanying services.
At the same time, according to Ozden, there is a need for discussion about the incentives existing in Ukraine to support investors, in particular, those provided for by the laws on supporting projects with significant investments (the law on investment nannies) and on industrial parks.
“Investors want to come to Ukraine, and there are laws on supporting projects with significant investments, on industrial parks. But they do not work yet, we expect mechanisms for their implementation, and if we compare these projects, we see that the law on industrial parks provides more advantages than the law on investment projects,” she said.
She recalled that the law on investment nannies provides up to 30% of assistance from the state, but stressed that a foreign investor, when choosing a country for investment, compares several countries and opportunities, and chooses the most appropriate incentives for him.
Baykar was founded more than 30 years ago, and during this time has gone from a manufacturer of car parts to the world’s leading manufacturer of drones with 1,600 employees.

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TURKISH COMPANY PLANS TO INVEST IN CONSTRUCTION OF COMBINED CYCLE POWER PLANT IN SOUTH OF UKRAINE

Turkish Aksa Enerji Uretim A.Ş. plans to invest in the construction of a combined cycle power plant in Izmail (Odesa region) with a capacity of 260 MW.
A memorandum of understanding between the Odesa Regional State Administration, the Izmail City Council, Aksa Enerji and Marzhinal LLC (Mykolaiv, the ultimate beneficiaries are a number of Turkish individuals) was signed on August 9, according to the Regional State Administration’s Facebook page.
According to the report, Aksa Enerji is ready to invest in the construction of the plant and accompany its operation on the basis of a 25-year agreement on the purchase of electricity, with subsequent transfer to the state ownership.
“The power plant will consist of a gas turbine and/or engines and a steam turbine with a total installed capacity of 260 MW, and all power plant equipment, including all related substation equipment such as step-up transformers and switchgear, will be provided, installed and commissioned by Aksa,” Vice-Chairman of Aksa Enerji Serdar Nişli said.

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FARMAK TO INVEST EUR 30 MLN IN R&D CENTER

Farmak pharmaceutical company (Kyiv) is investing EUR 30 million in the construction of an innovative research R&D center in Kyiv.
According to a press release from the company, the center is to open in 2023.
According to Executive Director of Farmak Volodymyr Kostiuk, the decision to build an R&D center was made a few years ago due to the expansion of the geography of presence and the portfolio of medicines.
In the new center, in particular, analytical laboratories will be concentrated, they will have about a hundred liquid and gas chromatographs and a number of modern devices for the development and testing of drugs.
In addition, the R&D center will house a technological laboratory with equipment for the development of finished drugs with various methods of their delivery to the human body and the implementation of personalized medicine protocols of the 21st century.
In the new R&D center, it is planned to continue working in three main areas: finished dosage forms, proprietary active pharmaceutical ingredients, as well as an innovative area in which Farmak has been working since 2015 – biotechnological active pharmaceutical ingredients. All processes will be digitized.
In addition, on the basis of the new complex, a special location will be equipped for young scientists who are not employees of the company, where they can engage in scientific activities and create prototypes of drugs.
The concept design of the complex was developed by Makhno Studio.
Farmak is the leader of the Ukrainian pharmaceutical market. The company’s product portfolio includes about 200 brands. Among the main directions are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs.

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DTEK FOCUSES ON PLANS TO INVEST IN RENEWABLE ENERGY GENERATION IN EUROPE

DTEK Energy Holding has not abandoned plans to invest in the generation of electricity from renewable sources in Europe, and is now exploring opportunities for this in different countries, CEO of DTEK Renewables Maris Kuniсkis has said.
“Yes, this is in our focus. Plans to invest in Europe remain. As long as there is no stability in Ukraine, we focus on abroad,” he said during the 12th International Ukrainian Energy Forum of the Adam Smith Institute on Friday.
At the same time, he said that, since the market in Europe is also changing, the company has to reorient itself to other countries, abandoning the development of projects in those that were considered in 2020. In addition, Kuniсkis did not disclose the details of possible projects.

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