Business news from Ukraine

METINVEST TO INVEST UAH 2.3 BLN IN ENVIRONMENTAL PROTECTION MEASURES

The Northern Mining and Processing Plant (Northern GOK, Kryvy Rih, Dnipropetrovsk region), which is the part of the Metinvest Group, will invest UAH 2.3 billion in environmental protection measures in 2020.
Metinvest Kryvyi Rih said on Facebook on Thursday, August 20, that Northern GOK continues seeking effective ways of environmental protection.
“This time peat hydroxide reagent was successfully tested during the blasting operations in the mine. Earlier, spraying of the reagent in the Hannivsky mine helped to reduce dusting by 30% and gas emission by 70%,” it said.
As reported, Metinvest plans to invest UAH 3.1 billion in the modernization and overhauls of equipment and construction of strategic facilities at Northern GOK in 2020.
Northern GOK is a part of the Metinvest Group, the main shareholders of which are JSC System Capital Management (SCM, Donetsk) (71.24%) and Smart Holding group of companies (23.76%).
The holding company of the Metinvest Group is Metinvest Holding LLC.

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NEW PARLIAMENT PASSES AT FIRST READING OWNERSHIP RIGHTS PROTECTION BILL IN UKRAINE

Ukraine’s Verkhovna Rada has passed at first reading bill No. 1056-1 on protection of ownership rights, ceasing activities of accredited entities in the sphere of public registration of ownership rights. As an Interfax-Ukraine correspondent reported, bill No. 1056-1 at the plenary meeting on September 12 was supported by 327 MPs.

“The bill is aimed at providing additional guarantees for the protection of ownership rights in Ukraine, and provides for the removal from the market of the so-called accredited entities – nongovernmental organizations that regularly, unfortunately, performed the functions of “black registrars” and were one of the elements of criminal schemes,” one of the initiators of the bill, MP Olena Shuliak (the Servant of the People parliamentary faction) said.

The document also introduces the principle of simultaneous notarization of a legal act and public registration of emerging rights, and obliges to notarize certificates on disposing corporate rights.

In addition, the bill provides for increased liability for violations of registration procedures.

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