Business news from Ukraine


Italy will continue to raise funds to restore the city of Bucha in Kyiv region, which suffered from Russian occupiers, Mayor of Bergamo (Italy) Giorgio Gori said during a meeting with Minister of Finance of Ukraine Serhiy Marchenko and Managing Director of the Rothschild international banking group for the CIS region Giovanni Salvetti.
As the Ministry of Finance pointed out in a press release on the website on Wednesday following the meeting, in April 2022, the Italian humanitarian organization Cesvi, headquartered in Bergamo, allocated the first EUR 500 million for the restoration of Bucha, and Gori confirmed its readiness to raise funds in the future.
The mayor of the Italian city noted that the amount of financial support for the restoration of the communal infrastructure and social facilities of Bucha will be increased through charitable contributions from private and public donors, in particular from the municipality of the city of Bergamo.
“Today, the amount of infrastructure damage reaches $104 billion, but the war is not over yet. Now, even after the victory, a difficult path for the restoration of Ukraine awaits us,” the Minister of Finance of Ukraine said in turn, quoted by the ministry’s press service.
Priority areas for the recovery of Bucha are the restoration of destroyed infrastructure, housing, refurbishment of fleets of special equipment, including ambulances, fire engines and public transport, the ministry added.

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During the UK-Ukrainian infrastructure summit in London, Ukraine and the UK, as well as representatives of UK business, signed a Memorandum on Ukraine’s infrastructure restoration.
The Ministry of Infrastructure of Ukraine said in a report on its website on Saturday that this memorandum provides an opportunity for UK business to fully participate in the restoration of Ukraine’s infrastructure destroyed by Russia.
In partnership with UK business, a working group has been created that will work on the restoration of the critical infrastructure of Kyiv city and the region.
“The Ministry of Infrastructure is already developing a public register of damaged infrastructure and, together with colleagues in the government and international partners, is developing solutions for digital recovery management,” Ukrainian Infrastructure Minister Oleksandr Kubrakov was quoted as saying.
According to him, now about 30% of the infrastructure in Ukraine has been destroyed.
At the same time, in the course of work on the restoration of transport communication, 41 temporary crossings have already been installed, almost 1,000 km of roads have been cleared.
The Ministry of Infrastructure said that the government of the UK, in particular, Secretary of State for Transport Grant Shapps, from the start of a full-scale invasion of Russia, provided full support in repelling aggression, restoring destroyed infrastructure and establishing supply chains in the condition of the war.

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Companies belonging to the Polish Electricity Transmission and Distribution Association have provided Ukraine with auxiliary materials and equipment to carry out work to restore the energy infrastructure damaged as a result of Russian aggression, according to the website of the Ministry of Energy of Ukraine on Tuesday.
“Due to the destruction caused by the hostilities, we see the need to support the energy system with materials and equipment, which will allow the resumption of electricity supplies in the most strategic directions,” president of the Polish Electricity Transmission and Distribution Association Robert Zasina said in a letter to the Minister of Energy of Ukraine, cited by the department.
As explained in the energy department, members of the association launched a campaign to help Ukraine last week. Among the equipment provided are the most necessary, in particular low and medium voltage cables with auxiliary materials, medium/low voltage transformers, power generators and other types of equipment.
“I would like to express my special personal gratitude to Minister of Climate and Environment of Poland, Anna Moskwa, for her unwavering support for Ukraine, both on the political front and for real actions to strengthen our energy security,” Herman Haluschenko said.
According to the Ministry of Energy, the Polish energy sector will send the next batch of aid to the Ukrainian energy sector in the near future.
Transportation of goods for Ukraine is coordinated and organized by the Polish Government Agency for Strategic Reserves.

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JSC Ukrzaliznytsia has asked the Ministry of Infrastructure of Ukraine to help with the resumption of Intercity high-speed trains on the Kyiv-Przemysl route.
“We have once again turned to the Ministry of Infrastructure with a request to send a request to their Polish colleagues to restore this route. This is very important for us, it was one of our most profitable routes,” Ukrzaliznytsia Head Volodymyr Zhmak said on the air of the Ukraine with Tigran Martyrosian program on Ukraine 24 TV Channel.
At the same time, he said that he had no doubts about the relevance of this direction.

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Ukraine and India are expanding military technical cooperation in the area of military shipbuilding and are creating a joint venture to restore power-generating equipment on Indian Navy vessels, Indian Defense News has reported. The report said there plans are to create a joint venture in India to overhaul gas turbines of Indian warships with the participation of Indian Bharat Heavy Electricals Ltd. (BHEL) and Ukraine’s state-owned Zorya-Mashproekt enterprise (Mykolaiv).
The creation of a joint venture in India is designed to optimize the current logistics of the growing Ukrainian-Indian military-technical cooperation in the field of military shipbuilding and to ensure a reduction in costs for the transportation of energy equipment to Ukraine for restoration. The turbine which is used by the Indian Navy requires overhauling after running 30,000 hours. At the same time, Indian BHEL is already cooperating with Siemens and General Electric and expects to expand the order portfolio within the new format of cooperation with the Ukrainian enterprise, the report said.
The details of the investments and figures will be reviled at the time of signing the deal.
According to Indian Defense News, the Indian Navy will soon have 34 warships using Ukrainian power equipment. Zorya turbines are extensively used in major Indian naval warships which includes five Rajput class destroyers, three Delhi class destroyers and 16 fast missile corvettes of the 1241RE class.
Zorya-Mashproekt declined to comment to the Kyiv-based Interfax-Ukraine news agency about cooperation plans with India, citing the confidentiality of the negotiations in progress.
Zorya-Mashproekt is a world-famous developer and manufacturer of gas turbine equipment and has been a part of Ukraine’s state-owned Ukroboronprom concern since 2011.

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