Business news from Ukraine

POLTAVA MINING AND PROCESSING PLANT INTENDS TO INCREASE CHARTER CAPITAL BY 62%

Poltava mining and processing plant (PGOK, Ferrexpo Poltava Mining, Horishni Plavni, Poltava region), the largest producer of iron ore pellets in Ukraine, by the decision of its sole shareholder, Swiss-based Ferrexpo AG, intends to increase its charter capital by 62.3%, or UAH 1.185 billion through an additional issue of shares without public offering.
The corresponding issue of shares was registered by the National Commission for Securities and the Stock Market of Ukraine on October 18.
At the time of the decision on the issue (July 31 of this year), the charter capital of PGOK amounted to UAH 1.902 billion and was divided into 191 million shares with a par value of UAH 9.96. The sources of increase in the charter capital are cash in foreign currency.
The term for the placement of shares is from October 4 to November 20 of this year.
As reported, Ferrexpo AG, which owned a 99.1167% stake in PGOK, in June of this year forcibly bought back shares from minority shareholders under a squeeze-out procedure and increased its stake to 100%. The buyback price amounted to UAH 34.24.
Ferrexpo Plc, which owns 100% of Ferrexpo AG, which in turn owns 100% of Poltava GOK and 100% of Yeristovo GOK, is traded on the London Stock Exchange (LSE).
Since the beginning of July this year, the price of Ferrexpo shares on the LSE fell by almost 2.1 times, to GBP1.354 per share, which is the lowest level since January 2017.

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SHEBELYNKA GAS REFINERY RAISES PROCESSING BY 7.6% IN H1

Shebelynka gas processing plant in Kharkiv region in January-June 2019 increased processing of crude oil by 7.6% (17,400 tonnes), compared to the same period in 2018, to 246,900 tonnes.
The Ministry of Energy and Coal Industry told Interfax-Ukraine that in June 2019 processing at the plant amounted to 40,300 tonnes, which is 6.1% (2,600 tonnes) more than in the same month last year.
For the six months, the plant increased production of petrol by 37.3% (by 21,800 tonnes), to 80,300 tonnes, fuel oil by 5.4% (by 2,300 tonnes), to 45,200 tonnes, but reduced diesel fuel by 27.2% (by 3,700 tonnes), to 17,300 tonnes.
The loading of the plant’s capacity through the aforementioned period of 2019 was 49.4% against 45.9% in 2018.
Ukrgazvydobuvannia, 100% owned by Naftogaz Ukrainy, is Ukraine’s largest gas producer, which provides about 75% of the total gas output in the country.
Ukrgazvydobuvannia operates Shebelynka gas refinery, Yablunivske department to process gas, Bazylivschyna condensate stabilization unit, and 19 filling stations in Kharkiv region. The latter sells fuel and liquefied gas of its own production.

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AFTER 50% PROCESSING OF E-PROTOCOLS: SERVANT OF THE PEOPLE – 42.4%, OPPOSITION PLATFORM – FOR LIFE – 12.8%, EUROPEAN SOLIDARITY – 8.6%, BATKIVSCHYNA – 8%, HOLOS – 6.3%

According to the results of 50.01% of the protocols processed, the Servant of the People Party with 42.45% of the vote, the Opposition Platform – For Life – 12.88%, European Solidarity – 8,64%, Batkivschyna – 8.01%, and Holos – 6.38% enter the Verkhovna Rada.
According to the CEC website, the remaining parties do not yet overcome the 5% pass barrier to parliament.

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SHEBELYNKA GAS REFINERY RAISES PROCESSING BY 6%

Shebelynka gas processing plant (Kharkiv region) in January-March 2019 increased processing of crude oil by 6% (by 7,000 tonnes) compared to the same period in 2018, to 122,800 tonnes.
The Ministry of Energy and Coal Industry told Interfax-Ukraine, in March 2019 processing at the plant amounted to 44,700 tonnes, which is 25.9% (9,200 tonnes) more than in the same month last year.
For the three months, the plant increased production of petrol by 53% (by 14,000 tonnes), to 40,400 tonnes, fuel oil by 31.5% (by 2,300 tonnes), to 9,600 tonnes, but reduced diesel fuel by 20.3% (by 4,700 tonnes), to 18,400 tonnes.
The loading of the plant’s capacity for the first quarter of this year was 49.1% against 46.3% in January-March 2018.

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UKRAINE INCREASES GRAPES PROCESSING BY 1.2% IN 2018

Grapes processing in Ukraine last year (excluding the temporarily occupied territory of Crimea and Sevastopol, part of the JFO area) increased by 1.2% compared with 2017, to 274,052 tonnes.
According to the State Statistics Service, out of the total amount of grapes processed for wine materials, 26.2% were actually harvested by enterprises, and the rest was purchased from households.
Odesa region last year processed 52.2% of grapes, Mykolaiv region some 35.8%, while Kherson 10.8% of the total volume.
Wine production in 2018 rose by 5.5% compared with 2017, to 19.75 million decaliters, of which 47% are table wine materials, 25.7% materials for champagne and sparkling wine, and 25.3% are wine materials for cognac.

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LARGE UKRAINIAN AGRICULTURAL GROUP WILL LAUNCH OIL PROCESSING PLANT

Kernel, one of the largest Ukrainian agricultural groups, plans to launch an oil processing plant in Starokostiantyniv district of Khmelnytsky region in early 2021, according to the annual report of Kernel Holding S.A. (Luxembourg). “The plant for processing oilseeds is located in the middle of western Ukraine, in the area with high sunflower yields and production,” chairman of the board of directors Andriy Verevsky said.
According to him, the capacity of the processing plant will be one million tonnes of grain per year, the volume of oil storage facilities is 100,000 tonnes. Commissioning is scheduled for early 2021. The construction of a combined heat and power plant with a capacity of 22 MW running on sunflower husk is also envisaged.
According to Verevsky, the company plans by the end of 2020 to install similar heat and power plants at all its plants, their total capacity will be 72 MW.
In addition, Kernel plans in 2019 to put into operation the second grain terminal of the company in Chornomorsk.
The launch of the first phase of the second terminal TransGrainTerminal with a capacity of one million tonnes per year is scheduled for January 2019. The entire terminal will be completed by the end of 2019, its capacity will be 4 million tonnes of grain per year.

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