Business news from Ukraine


Kremenchuk Steel Plant (Kremenchuk, Poltava region), which is part of the industrial assets of TAS Group, according to preliminary data, in 2020 received a net loss of UAH 22.81 million, while in 2019 its net profit amounted to UAH 66.03 million.
According to the information on the agenda of a general meeting of shareholders of the company scheduled for April 30, published in the information disclosure system of the National Securities and Stock Market Commission, the uncovered loss of the plant by January 1, 2021 amounted to UAH 50.57 million (a year earlier – UAH 27.71 million).
As reported, in 2019, the plant reduced its net profit by 3.2 times compared to 2018.
According to the plant, by the beginning of 2021 its current liabilities amounted to UAH 342.19 million, which is 9.5% more than a year earlier, long-term liabilities decreased by 3%, to UAH 258.74 million.
The company’s assets in 2019 increased by 6.6%, amounting to UAH 854.79 million, in particular total debtor indebtedness rose by 90%, to UAH 240.94 million.
Net worth as of January 1, 2021 amounted to UAH 253.86 million, in particular charter capital – UAH 132.12 million.
Kremenchuk Steel Plant is the leading foundry enterprise in Ukraine for production of steel castings for freight cars and heavy trucks.

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The State Agency of Automobile Roads of Ukraine (Ukravtodor) during tenders in the state electronic trading system ProZorro has reduced the expected cost of building a new bridge in Kremenchuk (Poltava region) by 11%, or UAH 1.27 billion.

Ukravtodor reported the tender was won by the Turkish company Dogus Insaat Ve Ticaret with a final offer of UAH 11.249 billion – an agreement with it will be signed after the completion of all tender procedures.

“The fact that new international players appear in the road sector who are immediately ready to compete on equal terms with others is a sign of a healthy market. And another confirmation that the path we have chosen is working. I am sure that there are more such companies – and quality as well will grow,” Head of Ukravtodor Oleksandr Kubrakov said.

According to him, 95% of the materials that will be used in the construction of the bridge will be Ukrainian.

According to the feasibility study of the project, the new bridge will be cable-stayed, with four lanes, two in each direction. On the right bank of the Dnipro River, it will connect with the N-08 highway, on the left – with the existing street network of Kremenchuk. At these points, it is planned to build transport interchanges at different levels. The total length of the structures will be over 3 km.

Dogus Insaat Ve Ticaret will both design and build the new bridge crossing as the “design and build” tender was announced.



Kozelshchinska Central District Hospital (Poltava Region) received an oxygen concentrator from Ferrexpo Belanovo Mining (FBM). This equipment will be used in the intensive care unit of the hospital.
“As previously reported according to the Ferrexpo’s assistance program, we constantly monitor the situation with the spread of coronavirus in Ukraine, study the needs of doctors and cover them in line with priority. Unfortunately due to the beginning of cold season the situation with patients in our country has worsened and now it is especially important to continue support of doctors who work extra hard to save lives, ”said Yuri Khimich, General Director of Ferrexpo Belanovo Mining.
According to head of Kozelshchinska hospital intensive care unit Nadiia Ovdienko, now the situation is extremely difficult and the medical institution turns to philanthropists for vital equipment and medicines. “We are very grateful to FBM for this concentrator and for the systematic assistance the company provides to our hospital,” – she added.
This oxygen concentrator compares favorably with analogs with low noise level, light weight and energy saving. The device has a dual flow and is designed to supply oxygen to two patients simultaneously.
Notes to Editors:
Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine. It has been mining, processing and selling high quality iron ore pellets to the global steel industry for over 40 years. In 2019, the Group produced 10.5 million tonnes of pellets ranking it as the 3rd largest exporter of pellets to the global steel industry with a market share of approximately 8%. Ferrexpo has a diversified customer base supplying steel mills in Austria, Germany, Japan, South Korea, Taiwan, China, Slovakia, the Czech Republic, Turkey, Vietnam and America. Ferrexpo has a premium listing on the main market of the London Stock Exchange under the ticker FXPO. For further information, please visit

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JTI Ukraine, a large tobacco company, after a meeting with Ukrainian President Volodymyr Zelensky and ministers on Thursday has said that it resumes production at its factory in Kremenchuk (Poltava region) following the similar announcement made by British American Tobacco Ukraine.
“After yesterday’s fruitful meeting with the President of Ukraine, we decided to fully resume production of cigarettes at the Kremenchuk factory. From Monday, November 11, the JTI Ukraine factory will resume production at all lines,” Director Corporate Affairs at JT International Ukraine Gintautas Dirgela told Interfax-Ukraine on Friday.
As reported, British American Tobacco Ukraine after a meeting with Zelensky and ministers on November 7 has announced the resumption of production at the B.A.T.-Pryluky plant (Chernihiv region), starting from November 8, 2019.
“We heard words of support and assurances about an early solution to the problem that has damaged our industry and the country’s economy as a whole. Therefore, despite some uncertainty about the fate of bill No. 1049, but relying on the president’s guarantees, we plan to gradually restore production in Pryluky, starting as early as November 8, 2019,” the company said in the statement.
British American Tobacco Ukraine on October 11, 2019 stopped production at B.A.T.-Pryluky plant. The company explained its decision by the adoption by the Verkhovna Rada of bill No. 1049 with the norm on the state regulation of the trade margin on cigarettes. Then the company turned to the State Fiscal Service to withdraw 25 million excise stamps and return UAH 505 million paid for them.
JTI Ukraine, one of the largest tobacco companies in Ukraine, on October 22 said that it refused to pay for 16 million excise labels worth UAH 350 million in connection with the reduction of production over the adoption of bill No. 1049 containing a requirement of regulating the cigarette markup. The company cut production by 73% compared with its plans in the second half of October.
Earlier Philip Morris Ukraine, British American Tobacco, JTI and Imperial Tobacco in Ukraine are mulling the possibility of decreasing production and later closing the tobacco factories on the territory of Ukraine over the adoption of the legislative requirement on the government regulation of markup on their goods by the Verkhovna Rada.
Bill No. 1049, passed at second reading, introducing a single account for paying taxes and duties, the single social security contribution, sets a fixed markup for wholesale and retail traders of tobacco products at 7% and 13% of the maximum retail price per package.

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JSC Ukrtransnafta, having checked the quality of U.S. crude oil (the Bakken formation), which was delivered by a tanker late last week, has started pumping it into the pipeline towards Ukraine’s Kremenchuk oil refinery.
“After the compliance of the crude oil was confirmed, Ukrtransnafta began pumping oil for its further transportation through the Odesa-Kremenchuk oil pipeline to the Kremenchuk refinery,” Ukrtransnafta said on Facebook on July 13.
As reported, the first batch of crude oil from the United States arrived in Odesa on July 6. It was delivered by the Wisdom Venture tanker.

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