Business news from Ukraine

CHINESE COMPANIES READY TO INVEST IN HIGH-SPEED RAILWAY LINES IN UKRAINE

Public joint-stock company Ukrzaliznytsia has announced that China Eximbank and Industrial and Commercial Bank of China are ready to invest in the development of Ukrainian railway infrastructure, increase of its quality and the speed, according to a posting on the website of Ukrzaliznytsia after the discussion of issues of developing high-speed railway traffic and the upgrade of Ukrzaliznytsia’s rolling stock jointly with representatives of Chinese banks and railway companies in Kyiv. Ukrzaliznytsia reported that representatives of Chinese railway companies expressed their desire to find a successful economic model for promoting high-speed traffic in Ukraine.
“China’s Eximbank and Industrial and Commercial Bank of China will be willing to invest in the development of Ukraine’s railway infrastructure, improving the quality of its use and speed,” Ukrzaliznytsia said. Welcoming colleagues from China, acting Board Chairman Yevhen Kravtsov said that their readiness for dialogue testifies to the seriousness of their intentions.
“The construction of a high-speed railway line was discussed at the level of the ministry, and today we see the construction of this line as a national project. I see a great potential in it, but Ukrzaliznytsia’s own funds are not sufficient for its implementation,” Kravtsov said.
He said that Kovel, Lviv and Mukachevo are promising points for connecting them with European narrow gauge track, and this is a realistic project for Ukrzaliznytsia in the coming years. Kravtsov also invited Chinese companies to participate in the tender for the electrification of the Dolynska-Mykolaiv-Kolosivka line.
The meeting was attended by representatives of Chinese companies: China Road And Bridge Corporation, China Railway Construction Corporation International Limited, China Railway Siyuan Survey and Design Group, China Railway Engineering Co., Ltd., China Railway International Group and China Railway Limited Group.

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BORSCHAHIVKA PHARMACEUTICAL PLANT TO INVEST UAH 176 MLN IN PRODUCTION OF PILLS AND CAPSULES

JSC Research and Industrial Center Borschahivka chemical and pharmaceutical plant plans by the end of 2018 to invest UAH 176 million, including in the completion of the upgrade of the new production line. “We invested UAH 76.9 million in development in 2017. Until the end of 2018, we intend to invest UAH 176 million in the production update. This money will go, including, to complete the construction of a new site for the production of pills and capsules, the launch of which is scheduled for 2019,” Director General of the plant Yulia Zdarevska told Interfax-Ukraine.
She said that the capacity of the new workshop will be 500 million pills and capsules, which will increase the total production capacity of these dosage forms by 27%.
Zdarevska also said that in the fourth quarter of 2020, the plant plans to put into operation a finished goods warehouse for 5,000 pallet positions.
In addition, the company plans to reconstruct the department of sterile antibiotics and a site for the production of medicines in vials, and intends to expand the capacity of the production site of lyophilic preparations.
“The renovation of equipment is only one of the components of the development of the plant in general. The purchase of new equipment and software is necessary, because we plan to expand production and output new products both to the domestic market and to foreign ones,” the plant’s director general said.
In addition, she recalled the company’s plans to expand the geography of exports and establish relations with foreign partners, invest in the development and conduct of research.
Currently, the plant’s medicines are manufactured in five main workshops, each of which fully complies with GMP standards, and production lines are equipped with modern high-tech equipment from leading European companies.

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NORWAY PLANS TO INVEST IN UKRAINIAN ENERGY SECTOR – NORWEGIAN FM INE ERIKSEN SOREIDE

Norway is considering the possibility of expanding investments in the energy sector of Ukraine, Norwegian Foreign Minister Ine Eriksen Soreide has said. “We will continue to provide support for energy efficiency, reforms, our dialogue with Naftogaz, corporate governance … We are also looking at how we can expand this support,” she said at the second international Ukraine Reform Conference, held in Copenhagen (Denmark). She noted that Ukraine’s reform efforts in recent years have stimulated a flow of investment in the energy sector of Ukraine, in particular, in renewable energy.
However, we would like to see more investment between Ukraine and Norway in both directions, she added, stressing that investments are possible as a result of effective structural reforms.
A truly independent Anti-Corruption Court will only become a catalyst for private investment, she said.
At the same time, the official said that even pre-election moods should not prevent Ukraine from realizing its goals, so that the expectations of Western partners remain at a high level.

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SPAIN’S ACCIONA TO INVEST EUR 54.7 MLN IN JOINT PROJECT WITH UDP TO BUILD SOLAR POWER PLANT NEAR KYIV

UDP (Kyiv) from the UFuture investment group has arranged a joint project to expand Dymerka solar power plant (Kyiv region) from 6 MW to 57.6 MW with Spain’s ACCIONA Energia Global, the press service of UDP reported on Friday.
“The first project of the Spanish energy giant on the Ukrainian m
arket will be the development of the second, third and fourth stages of the Dymerka solar power plant in Kyiv region with a total peak capacity of 57.6 MW. The first phase of this plant was commissioned by UDP Renewables in the summer of 2017. The total volume of foreign direct investment only in this project is EUR 54.7 million,” UDP said.
The founder of UFuture Vasyl Khmelnytsky said that the launch of the Dymerka solar power plant at a full capacity is scheduled for the first quarter of 2019.
“I believe that this example would stir up the process of attracting investment and the global expertise, which is also important,” UDP reported, citing Khmelnytsky.
ACCIONA Energia CEO Rafael Mateo said that the Spanish company starts its operations in the renewable energy sphere in Ukraine with support of the European Bank for Reconstruction and Development (EBRD).
The UDP said that they arranged with Acciona Energia Global to work together on a broad portfolio of investment projects in both solar and wind energy in the Ukrainian market.
As reported, the first stage of the solar power plant in the village of Velyka Dymerka (Kyiv region) with a capacity of 6 MW was registered for Dymerka solar power plant-1 LLC. The company belongs to the majority shareholder of the UDP development company Vasyl Khmelnytsky.
ACCIONA Energia Global from ACCIONA Group headquartered in Madrid is a global leader in renewable energy with 25 years of experience.
UFuture investment group is a leading business group in Ukraine. It incorporates UDP, the Sikorsky Kyiv airport (Zhuliany), RTM national outdoor advertiser, Bila Tserkva industrial park, UNIT.City and LvivTech.City innovative parks, Biopharma pharmaceutical company and UDP Renewables. UFuture is headquartered in Brussels and its head office is located in Kyiv
UDP Renewables is a Ukrainian developing company in the renewable energy sphere.

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SPANISH ACCIONA ENERGIA GLOBAL TO INVEST EUR 54.7 MLN IN JOINT PROJECT WITH UDP TO BUILD SOLAR POWER PLANT IN KYIV REGION

UDP (Kyiv) has arranged a joint project to expand Dymerka solar power plant (Kyiv region) from 6 MW to 57.6 MW with Spain’s Acciona Energia Global, the press service of UDP has reported. “The first project of the Spanish energy giant on the Ukrainian market will be the development of the second, third and fourth stages of the Dymerka solar power plant in Kyiv region with a total peak capacity of 57.6 MW. The first phase of this plant was commissioned by UDP Renewables in the summer of 2017. The total volume of foreign direct investment only in this project is EUR 54.7 million,” UDP said.
The launch of the Dymerka solar power plant at a full capacity is scheduled for the first quarter of 2019.
The UDP said that they arranged with Acciona Energia Global to work together on a broad portfolio of investment projects in both solar and wind energy in the Ukrainian market.
As reported, the first stage of the solar power plant in the village of Velyka Dymerka (Kyiv region) with a capacity of 6 MW was registered for Dymerka solar power plant-1 LLC. The company belongs to the majority shareholder of the UDP development company Vasyl Khmelnytsky.

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DANISH INVESTOR WILL INVEST EUR 800,000 IN MINK FARM IN UKRAINE

Danish investor Hans Olesen plans to build a mink farm in Zhytomyr region, according to the website of the regional state administration. According to the report, the memorandum on cooperation was signed by the investor and Head of Zhytomyr Regional State Administration Ihor Hundych on May 30, 2018. “The investment project envisages the construction of a mink farm in Korostyshiv district for 5,000 animals. Within five years, the investor plans to expand the farm by 10,000 animals. The amount of investments is EUR800,000,”the report says.
In addition, the investor plans to develop the social sphere and social facilities of the district.
The farm will provide ten jobs during construction and 30 jobs during operation.

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