Business news from Ukraine

U.S. PLANS TO REVISE RESTRICTIONS ON IMPORTS OF SOME STEEL PLATЕ PRODUCTS FROM CHINA, RUSSIA AND UKRAINE

At the end of the fourth five-year period, the United States International Trade Commission (USITC) will revise anti-dumping restrictions on the supply of Certain Cut-to-length Carbon Steel Plate to the American market from Ukraine, Russia and China.
According to the USITC report in the Federal Register bulletin, the start of the review is set for November 2, the deadline for responses from participants in the review procedure is December 2, 2020.
During the revision procedure, USITC will determine the possibility of abolishing anti-dumping duties on these products from China, as well as ending the suspension of the investigation on this type of rental from the Russian Federation and Ukraine – to what extent this may lead to the continuation or renewal of damage to local manufacturers of these products in the United States.

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UKRAINIAN WINDFARM AND POWERCHINA LAUNCH WIND FARM PROJECT

On October 30, the Ukrainian company WindFarm and the Chinese company PowerChina signed a contract on the joint implementation of a project for the construction of an 800 MW wind farm with a capacity of over $1 billion in Manhush and Nikolske districts of Donetsk region, Board Chairman of the Ukrainian Wind Energy Association (UWEA) Andriy Konechenkov has said.
“The specifics of this project is that it does not provide for a feed-in tariff. This is the first robin in the electricity market, the first project that will compete with conventional generation in real conditions,” he told Interfax-Ukraine.
At the same time, according to him, the project provides for local content policy or local components, which gives rise to the development of national wind energy production.
“How the payment for this local component will be carried out remains to be decided,” Konechenkov said.
He also said that the Chinese company is participating in this project “as an investor in a large, transparent project that does not depend on the ffeed-in tariff,” which, according to him, has already exhausted itself given the crisis of non-payments.
“It is necessary to start working on new technologies. Moreover, the issue is related to the reintegration of the regions, the launch of new environment-friendly production,” the board chairman of the UWEA said, noting that investors are currently not considering the possibility of participating in “green auctions” due to weak predictability of conditions and timing of their implementation.
At the same time, he expressed the hope that the experience and capabilities of the Chinese investor will contribute to the implementation of the project as soon as possible, noting that PowerChina is ready to work on the basis of the support of a domestic manufacturer and financing of European wind turbines.
Konechenkov said that this project, which has been in preparation for about a year, will become the largest onshore wind farm in Europe.
According to the data on the UWEA website, PowerChina, which specializes in the design and construction of energy and transport facilities, is in the top 100 largest companies in the country and in the top 500 largest companies in the world. In particular, it owns the Three Gorges, the world’s largest hydroelectric dam with a capacity of 22.5 GW.
The WindFarm team has developed a portfolio of wind power plants with a total capacity of 1.3 GW, of which more than 400 MW have already been put into operation.
Both companies are members of the UWEA.

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UKRAINE EXPORTS 16 MLN TONNES OF GRAIN IN JULY-JUNE

Ukraine exported 15.97 million tonnes of grains and legumes since the beginning of the new 2020/2021 marketing year (July-June) and as of October 30, which is 2.67 million tonnes less than on the same date of the last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 10.33 million tonnes of wheat (less by 850,000 tonnes), 3.37 million tonnes of barley and 2.22 million tonnes of maize (less by 1.73 million tonnes) have been exported.
As of October 30 of this year, 61,800 tonnes of flour were exported as well.
As reported, Ukraine exported record 57.2 million tonnes of grains, legumes and flour in the 2019/2020 marketing year, which is 13.5% more than in the previous marketing year.

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CORPORATION POSCO TOGETHER WITH NONGHYUP FEED SUPPLIES 68,000 TONNES OF FEED WHEAT FROM UKRAINE TO S.KOREA

The trading corporation Posco International together with Nonghyup Feed, the largest importer of feed grain in Korea, supplied 68,000 tonnes of feed wheat from Ukraine to South Korea.
According to a report on Posco International’s website, out of 68,000 tonnes, 41,000 tonnes were sent through the Ukrainian grain terminal Posco.
“This food import is important because this is the first case of a stable supply of high quality feed grain to South Korea, secured by investments from a domestic company,” the company’s release stated.
Posco International expects that with the first delivery of feed wheat, the company will build a stable national grain procurement system using its own export terminal, expanding imports of wheat and maize.
The company indicated that in September 2019, Posco International completed the construction of an export grain terminal capable of shipping 2.5 million tonnes of grain per year at Mykolaiv Maritime Merchant Port.
It is noted that Posco International’s agricultural business is expanding with the delivery of major grains such as wheat, maize, soybeans and barley, but it all started with rice. The trade volume increased from 840,000 tonnes in 2015 to about 7.5 million tonnes in 2020.

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UKRAINE LIFTS LIMITS FOR SALARIES IN STATE-OWNED COMPANIES

Since October, the Cabinet of Ministers of Ukraine has lifted restrictions on the salaries of managers, members of executive bodies and remuneration to members of supervisory boards of state-owned companies, according to a government resolution dated October 26, posted on the government’s website.
“To establish that in October 2020 and in the future, the salary of managers, members of executive bodies and remuneration of members of supervisory boards of economic entities in the public sector of the economy are determined in accordance with the terms of contracts …” the government said in the document.
Thus, the Cabinet of Ministers used Paragraph 4 of Section 2 of the Final Provisions of the law dated September 17, 2020, with amendments to the national budget for 2020.

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UKRAINE EXPORTS 15 MLN TONNES OF GRAINS SINCE JULY-JUNE

Ukraine exported 15 million tonnes of grains and legumes since the beginning of the new 2020/2021 marketing year (July-June) and as of October 26, which is 2.94 million tonnes less than on the same date of the last MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, to date, 10.11 million tonnes of wheat (less by 810,000 tonnes), 3.3 million tonnes of barley and 1.54 million tonnes of maize (less by 2.05 million tonnes) have been exported.
As of October 26 of this year, 60,000 tonnes of flour were exported as well.
As reported, Ukraine exported record 57.2 million tonnes of grains, legumes and flour in the 2019/2020 marketing year, which is 13.5% more than in the previous marketing year.

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