Business news from Ukraine

CHINESE COMPANY TO SUPPLY WIND TURBINES TO UKRAINIAN WIND FARMS

The Chinese manufacturer of wind turbines Xinjiang Goldwind Technology Co., Ltd has signed contracts for the supply of wind turbines for two projects in Ukraine with a total capacity of 625.5 MW – Zophia wind farm with a capacity of 337.5 MW and Ochakiv (Yuzhnoukrainsk wind farm) with a capacity of 288 MW, according to the company’s website. “Two projects include 75 wind turbines on the GW155 platform with a capacity of 4.5 MW and 60 turbines with a capacity of 4.8 MW,” the company said.
The annual production of electricity from the two wind farms is estimated at 2.2 TWh enough to power 1.1 million households and will reduce carbon dioxide emissions by approximately 1.7 million tonnes per year.
According to the calculations of the Chinese company, which entered the Ukrainian market in 2019, after the completion of the transaction, Goldwind’s market share in Ukraine is expected to exceed 20%. The projects are scheduled to be completed by the end of 2022.
The company said that the projects will further consolidate Goldwind’s leading position in the global market.
According to the Windpower Monthly website, Goldwind will also service the Zophia turbines for 25 years, and the Yuzhnoukrainsk WPP for two years.
This summer, the Norwegian company Emergy (formerly NBT) announced its intention to install 75 Goldwind GW155 wind turbines with a capacity of 4.5 MW in the first two phases of the Zophia wind farm in Zaporizhia region. The wind farm is located about 25 km south-west of Melitopol, Zaporizhia region, near the Sea of Azov, and covers an area of about 39 km from north to south.
The Ochakiv wind farm belongs to Yuzhnoukrainsk wind farm LLC, registered in 2007 in Ochakiv district of Mykolaiv region. According to open data, the Chinese company Longyuan Power Overseas Investment Co. Ltd. (51%) and Hong Kong-based Hiro Asia Investment Limited (49%), which changed owners from the United States and the U.K., have been its owners since the end of June this year. The charter capital of the LLC is UAH 44,000. The company is headed by Yevhen Husev.
The Yuzhnoukrainsk wind farm, the capacity of which according to the project is indicated as 300 MW, will be located on the territory of Parutyne and Ostrovske village councils outside the settlements. The feasibility study of the wind farm was developed by IKNET.

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UKRAINE DISAPPOINED WITH HUNGARY’S DECISION TO SIGN CONTRACT WITH RUSSIA’S GAZPROM FOR SUPPLY OF GAS BYPASSING UKRAINE

Ukraine is surprised and disappointed with Hungary’s decision to sign a new long-term contract with Russia’s Gazprom in Budapest on September 27, 2021, regarding gas supply to Hungary bypassing Ukraine, the Ukrainian Foreign Ministry said in a statement.
“We view this as nothing but a political, economically unfounded decision, which has been made to the benefit of the Kremlin and to the detriment of national interests of Ukraine and Ukrainian-Hungarian relations, in violation of the principles of the Treaty of Neighborliness and Cooperation between Ukraine and the Hungarian Republic dated December 6, 1991,” the statement said.
The Ukrainian Foreign Ministry has initiated a delay of the next meeting of the Joint Ukrainian-Hungarian Intergovernmental Economic Cooperation co-chaired by the two foreign ministers, which was planned for September 29-30.
“Earlier today, the Ukrainian Foreign Ministry initiated a delay of the Commission meeting, considering that the Hungarian-Russian gas agreement will have a substantial influence on the energy security of Ukraine and Europe, and will create new circumstances that require a comprehensive analysis of risks and threats and coordinated efforts of countries of the region in order to minimize its negative implications,” the statement said.
The Ukrainian side will also apply to the European Commission to provide an assessment of the conformity of the new Hungarian-Russian gas agreement with European energy legislation.

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CHINA INTERESTED IN INCREASING SUPPLY OF UKRAINIAN SOYBEANS, PEAS, BARLEY, WHEAT

China is interested in increasing the supply of Ukrainian soybeans, peas, barley, wheat, as well as poultry and other products, the Ministry of Economy said, following a meeting between First Deputy Prime Minister – Minister of Economy Oleksiy Liubchenko and Chinese Ambassador to Ukraine Fan Xianrong on June 10. “Today we’ve heard from our Chinese partners confirmation of interest in deepening economic cooperation, increasing exports of Ukrainian agricultural products, building infrastructure and implementing joint investment projects in transport, construction, energy, IT and other areas,” the press service of the ministry said citing Oleksiy Liubchenko.
According to the report, the meeting was also attended by Deputy Minister Volodymyr Hryniuk and Deputy Minister-Trade Representative of Ukraine Taras Kachka, as well as representatives of the leadership of the Chinese Embassy in Ukraine.
The parties also noted the importance of signing an intergovernmental agreement on deepening cooperation in the construction of infrastructure in the near future, the ministry said.
“This step will allow starting preparatory work for the launch of investment projects, including the construction of the M-22 Poltava-Oleksandriya road and the first part of the Kyiv circular road – sections M05-M06, which will cost about $ 1.1 billion,” the ministry said.
It is also important to continue work on the development of freight traffic in the direction of China-Western Europe through the territory of Ukraine, the report notes.
In addition, the Chinese side stressed the importance of the implementation of the intergovernmental initiative of Ukraine and China “One Belt-One Road.” The matter concerns preparing a roadmap for the implementation of a program of cooperation between the two countries within the framework of the joint construction of the “Silk Road Economic Belt” and “21st Century Maritime Silk Road,” the ministry added.

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UKRAINE MAKES AGREEMENT WITH TURKISH COMPANIES ON SUPPLY OF DRONES AND CORVETTES

Minister of Defense of Ukraine Andriy Taran signed agreements with Turkish companies on the transfer of technology and production of corvettes and unmanned attack aircraft systems for the needs of the Armed Forces of Ukraine.
The Ukrainian Defense Ministry said on its website on Monday, the signing took place within the visit of the Turkish delegation to Ukraine, headed by President of Defence Industries of Turkey Ismail Demir.
According to Taran, first of all, this is about projects designed to radically enhance the combat capabilities of the Naval Forces of the Armed Forces of Ukraine to improve security in the area of the Black and Azov Seas.
The minister said these are the first in history foreign economic transactions for military goods concluded by the Defense Ministry of Ukraine.
The Defense Ministry said that in October, Taran and Demir signed a memorandum with the intention to start and implement joint projects for the construction of warships, unmanned aerial vehicles and all types of turbine engines.

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KMZ INDUSTRIES TO SUPPLY EQUIPMENT FOR BATKIVSCHYNA FARM

KMZ Industries (Karlivka Machine Building Plant, Poltava region), a leading supplier of integrated solutions for grain storage and processing in Ukraine, in 2020 will provide Batkivschyna farm LLC (Chernihiv region) with transport equipment (conveyors and elevators) as part of the next expansion of the customer’s elevator capacity.
According to a press release from KMZ Industries, the agricultural enterprise with which the plant has been cooperating for the third year will be supplied with 13 chain conveyors with a total length of 300 meters and five bucket elevators with a capacity of 175 tonnes/hour with a total length of 198 meters.
According to the press service, in October of this year, KMZ Industries installed four grain storage silos for Batkivschyna out of the eight delivered by the plant back in 2017 with a total volume of 136,000 cubic meters of one-time storage (four more were installed at the end of 2019).
“This year Batkivschyna LLC has fixed a new record of wheat yield in our country at 10.1 tonnes/ha. And it will be stored in the silos of our production,” the press service said citing head of the regional office of KMZ Industries Vladyslav Perekhodko.
KMZ Industries manufactures silos on a flat base, with a conical bottom, silos for storing flour, Brice-Baker mine grain dryers (British design) and particle board (Ukrainian design), transport equipment (bucket elevators, chain, belt and screw conveyors), separators for grain cleaning, assembles and automates elevator equipment and technological processes at granaries.

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MONEY SUPPLY IN UKRAINE GROWS BY 2% IN OCT

The money supply in Ukraine in October 2020 increased 2%, to UAH 1.757 trillion, according to preliminary data of monetary statistics on the website of the National Bank of Ukraine (NBU).
According to the data, the monetary base (reserve funds) over the past month grew by 2.4%, to UAH 581.722 billion.
The central bank also said that off-bank funds (M0) in October also expanded by 2.2%, to UAH 485.906 billion.
According to the NBU, the deposit portfolio of banks over the past month increased 1.9%, to UAH 1.268 trillion, in particular, in national currency it grew by 2.6% (to UAH 764.932 billion), and in foreign currency by 0.5% (to UAH 502.980 billion).
At the same time, the loan portfolio of banks in October decreased 2%, to UAH 958.34 billion, including in the national currency – 1.8% (to UAH 595.417 billion) and in foreign currency – 2.3% (to UAH 362.923 billion ), the bank said.
According to the central bank, net forex reserves narrowed by 2.7% in October, to $15.368 billion.

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