Business news from Ukraine


TIU Canada (Ekotechnik Nikopol) dismantled the equipment of its solar power plant in Nikopol due to an unresolved conflict with Nikopol Ferroalloy Plant (NFP), according to a material on the Voice of America website.
According to Michael Yurkovich, CEO of TIU Canada, after the solar power plant was disconnected from the power grid in March 2020, followed by its downtime and a number of negative court decisions, the owners of NFP offered to sell the plant to them for a pittance, after which it was decided to dismantle it.
“This situation is not unique for the last two years in this country. The governments of the world, other overseas investors, people in the diaspora must admit that this situation does not only affect TIU – it affects many businesses and is getting worse, and we no longer want to play this game,” he said.
As reported, on March 2, 2020, NFP completely disconnected a 10.5 MW solar power plant from Ekotechnik Nikopol LLC (TIU Canada) from the power grid. TIU Canada noted that NFP took advantage of the fact that the SPP was connected to a substation located on its territory, and explained the need for shutdown by repair work.
TIU Canada has been operating in Ukraine since 2016. The company put into operation a 10.5 MW SPP in Nikopol in January 2018, and an 11 MW SPP in Mykolaiv region in April 2019. In addition, TIU Canada launched a 33 MW SPP in Odesa region. The company’s investments in solar energy, which became the first investor in Ukraine under the Canada-Ukraine Free Trade Area Agreement (CUFTA), amounted to over $65 million.
Nikopol Ferroalloy Plant is controlled by EastOne Group, established in autumn 2007 as a result of restructuring of Interpipe Group, and Privat Group, both based in Dnipro.

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Nikopol Ferroalloy Plant (NFP, Dnipropetrovsk region) in January-May this year increased production by 12.5% compared to the same period last year, to 259,690 tonnes.
As the Ukrainian Association of Producers of Ferroalloys and Other Electrometallurgical Products told Interfax-Ukraine, in the five months, the plant increased production of silicon manganese by 9.6%, to 236,710 tonnes, and ferromanganese – by 53.9%, to 22,980 tonnes.
In May, 59,290 tonnes of ferroalloys were produced.
Nikopol Ferroalloy Plant is Ukraine’s largest ferroalloy smelter. It uses imported and domestic raw materials for the production of ferroalloys.
Nikopol plant is controlled by EastOne Group, established in autumn 2007 as a result of restructuring of Interpipe Group, and Privat Group, both based in Dnipro.

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Nikopol Ferroalloy Plant (NFP, Dnipropetrovsk region) in January of this year reduced production by 3.9% compared to the same period last year, to 40,270 tonnes.
As the Ukrainian Association of Producers of Ferroalloys and Other Electrometallurgy Products told Interfax-Ukraine, in January 2021, the plant increased the production of silicon manganese by 0.3%, to 37,830 tonnes, but reduced ferromanganese and other ferroalloys by 42.2%, to 2,440 tonnes.
In December, the plant produced 36,230 tonnes of ferroalloys, in November – 35,180 tonnes, in October – 35,480 tonnes, in September – 35,200 tonnes, in August – 35,340 tonnes, and in July – 52,430 tonnes.
Earlier, during conference calls, Director General of Nikopol Ferroalloy Plant Volodymyr Kutsyn announced an increase in demand for ferroalloys, so the planned target for February was increased.
At a meeting held on February 16, it was noted that the plant was fulfilling the planned target for February in the amount of 48,000 tonnes. Heating of three more ovens also continues.
“Heating is proceeding according to the schedule: furnaces No. 7 and 16 are heated up by 60%, furnace No. 8 – by 40%,” the Electrometallurg newsapaper said, citing the head of the production and technical department.
As reported, Nikopol Ferroalloy Plant in 2020 reduced production by 29.1% compared to the previous year, to 513,320 tonnes.



The cities of Lloydminster in the province of Alberta, Canada, and Nikopol in the Dnipropetrovsk Oblast of Ukraine yesterday announced a historic sister-city agreement. Mayor Gerald Aalbers signed on behalf of Lloydminster and Mayor Andriy Fisak will be signing on behalf of Nikopol.
This agreement is the first major announcement of non-military cooperation between Canada and Ukraine in 35 years. It recognizes the long history and close relationship between Western Canada and Ukraine and will serve as the starting point for a renewal of goodwill as both cities invest in each other, through increased trade, commerce, education, athletics, and cultural exchanges.
Mayor of Lloydminster Gerald Aalbers: “I am pleased to announce that the City of Lloydminster will be partnering with Nikopol as sister cities. Council approved a motion at the July 16, 2018 council meeting for the sister city agreement. I look forward with great anticipation to building this relationship. I am eager to welcome a delegation from Nikopol in the coming months. Ukrainian heritage runs strong in Alberta, and especially in Lloydminster, and I’m honoured to witness this historic sister city agreement.”
“Canada and Ukraine enjoy close bilateral relations and the historic ties of friendship between our two countries were forged through generations of Ukrainian migration to Canada”, said Mayor Fisak. “Today, these historic bonds are reinforced by shared values and interests to produce a mature, balanced and mutually beneficial partnership for the 21st Century.” Mayor Fisak said: “I trust a Sister City Agreement between Lloydminster, Canada, and Nikopol, Ukraine, will create an environment conducive to the development of both of our communities, and will offer the possibility to strengthen our social and cultural relations – as well as improve the welfare of the residents of our two cities.”
Today’s announcement has been widely celebrated by Ukrainian-Canadians. Olesia Luciw-Andryjowycz, President of Ukrainian Canadian Congress – Alberta Provincial Council said, “We are thrilled with the new twinning of the Ukrainian city of Nikopol with our own Alberta city of Lloydminster. Being the first Alberta city twinned with a city in Ukraine, this will be a great opportunity to develop trade and commerce between these two municipalities. UCC-APC looks forward to working cooperatively in a variety of sectors including education, arts and culture, economic cooperation and governance.”
A key motivation for this agreement is the historic undertaking in Nikopol by Calgary-based investment firm Refraction Asset Management through its subsidiary, TIU Canada, a renewable energy company. On January 26, 2018, TIU Canada opened a 10.5-megawatt solar power plant in Nikopol with a total investment of €10.5 million (approx. CAD$16.1 million). This investment is the first investment from Canada under the 2017 Canada-Ukraine Free Trade Agreement.
Refraction Asset Management’s President, Michael Yurkovich said, “We at Refraction Asset Management are pleased to play a role in bringing together Lloydminster and Nikopol. This is the first sister city agreement in Alberta with a Ukraine city, and it’s an indicator of both the strong ties between Canada and Ukraine, as well as the success of the Canada-Ukraine Free Trade Agreement.”
The text of the agreement is attached separately to this release.
For more information, please contact:
(inquiries in Ukrainian should be sent via email only)
Shayne Saskiw
Principal, Alberta Counsel

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