The State Agency of Automobile Roads of Ukraine (Ukravtodor) and the Turkish company Onur Taahhut Tasimacilik İnsaat Ticaret Ve Sanayi Anonim Sirketi (Ankara) have signed a contract for the construction of a bridge in Zaporizhia. According to an Interfax-Ukraine correspondent, the corresponding document was signed by Ukravtodor Head Oleksandr Kubrakov and the representatives of Onur Taahhut at a meeting on March 3.
“We expect that work will begin next week. The agreement that was signed is designed for four years, but we have our internal terms … We expect it to be two years,” Kubrakov said after the signing ceremony.
As reported, the Turkish company Onur Taahhut Tasimacilik İnsaat Ticaret Ve Sanayi Anonim Sirketi won a tender for the construction of a bridge in Zaporizhia with an offer of UAH 11.918 billion.
Onur Taahhut was founded in 1991. It is engaged in construction of roads, bridges, junctions, structures and road reconstruction work. The company has successfully implemented important projects in Croatia, Ukraine, Tunisia, Moldova, Oman, Equatorial Guinea, and Turkmenistan. It has experience in the implementation of construction and assembly works at infrastructure facilities throughout Ukraine.
State-controlled Ukrgasbank (Kyiv) has issued $13 million and UAH 42.8 million for the construction of a new terminal at Zaporizhia airport, the financial institution’s press service has told Interfax-Ukraine. According to the report, the total cost of building the new terminal amounted to UAH 1.085 billion.
“Further borrowing needs from the borrower have not been announced at the moment,” the press service of Ukrgasbank said.
As reported, in December 2019 Zaporizhia completed the construction of a new airport terminal and in March 2020 they plan to open it for passengers.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.94% of the shares of the financial institution.
Ukrgasbank ranked fourth among 76 banks operating in the country on October 1, 2019 in terms of total assets (UAH 114.133 billion), according to the National Bank of Ukraine.
The Hungarian low cost airline Wizz Air Holdings Plc launches flights from Zaporizhia to Gdansk, Wroclaw, Krakow (all from Poland), Vienna (Austria), and Vilnius (Lithuania).
This was announced by Human Resources Director at Wizz Air Holdings Plc Johan Eidhagen during a press conference in Kyiv.
According to him, flights will be operated twice a week, in particular, to Gdansk on Mondays and Fridays (from March 30), to Wroclaw on Wednesdays and Sundays (from March 29), to Budapest on Thursdays and Sundays (from March 29), to Vienna on Thursdays and Sundays (from March 29), to Krakow on Wednesdays and Sundays (from March 29), to Vilnius on Mondays and Fridays (from March 30). Their cost is from UAH 569 one way.
“We are always trying to find “diamonds” that have not yet been processed. This is one of the examples when the airport [of Zaporizhia] has developed so much over the past couple of years. There is a great potential for further growth there,” he said.
Wizz Air, the largest low cost carrier in Central and Eastern Europe, offers flights on more than 600 routes from 25 bases, connecting 145 destinations in 44 countries. The airline fleet consists of 120 Airbus A320 and Airbus A321 aircraft.
By the end of 2019, the company intends to carry 40 million passengers.
Zaporizhia International Airport in January-July 2019 served more than 280,000 passengers, which is 27% more than for the same period in 2018.
According to the statistics on the airport’s website, the number of passengers served on international flights for the seven months amounted to 214,000 people (an increase of 28%), on domestic flights some 68,000 people (an increase of 22%).
In July 2019, some 51,000 passengers used the services of the airport, which is 13% more than in July 2018. At the same time, more than 40,000 people were transported on international airlines and almost 11,000 on domestic flights.
“Over the past 11 years, since 2008, when they began to systematically collect statistical data, the largest number of passengers — almost 25,500 people — were carried through Zaporizhia airport for the second summer month … In the same month, the largest number of takeoffs was recorded – 356,” the airport said.
Arricano Real Estate Plc (Cyprus), managing company and developer of shopping and entertainment malls in Ukraine, is going to sell two its properties: Sun Gallery Mall in Kryvyi Rih (Dnipropetrovsk region) and City Mall in Zaporizhia.
“Arricano is pleased to announce it has entered into negotiations to sell two of its properties in its property portfolio, Sun Gallery (located in Kryvyi Rih, Ukraine) and City Mall (located in Zaporizhzhia, Ukraine),” reads an announcement of the company posted on London Stock Exchange (LSE) on July 31.
The developer said it has entered into non-binding heads of terms with Dragon Capital Investments Limited and with other parties in relation to such sale.
“A sale of the properties is a part of Arricano Real Estate PLC global strategy, due to which received funds will be meant for the development of portfolio and strengthening of the company’s positions,” Arricano CEO Mykhailo Merkulov told Interfax-Ukraine.
According to the developer, Sun Gallery is currently held in Arricano’s subsidiary, PrJSC Ukrpangroup, a Ukrainian subsidiary of Museo Holdings Limited and City Mall is currently held in in Arricano’s subsidiary, Pryzma Alfa LLC, aUkrainian subsidiary of Sunloop Co Limited.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.
INTEGRITES acted as local counsel to EuroCape Ukraine, an indirect subsidiary of LongWing Energy, a Luxemburg-based independent power producer operating renewable assets in Europe, in connection with the financing of the first 98 MW phase of a 500 MW wind farm in Zaporizhia region, Ukraine.
The first phase of the project build-out is financed by a mixture of debt and equity. The Overseas Private Investment Corporation (OPIC) is providing US$150 mln in long-term financing. The remaining project costs are financed by LongWing S.C.A, VLC Renewables and GE Capital’s Energy Financial Services. GE Renewable Energy will also supply the turbines for the 98 MW.
The first phase of the project is under construction and shall enter operation in the first quarter of 2020. The subsequent phases are intended to be finished in the course of 2020. The wind park when fully constructed is expected to reduce carbon emissions by more than 4.86 tons per year and provide 780,000 of households in Ukraine with electricity.
INTEGRITES was retained by the sponsors as local counsel on overall aspects of financing, construction, regulatory, corporate and other development matters related to the project. In particular, the advice included structuring, advice on capital and exchange controls, review of the project and finance documentation as well as complex advice on the FiT regime, the PPA and the grid connection agreement.
«We are delighted to see that this pioneering and large-scale wind energy project has successfully achieved the financial close. Above all, this project will have a positive social and environmental impact for the region and we are proud to have contributed to promoting the sustainable development of Ukraine”, – comments Igor Krasovskiy, partner and project lead at INTEGRITES.
«I am very proud to see INTEGRITES helping to implement the second wind farm project financing in Ukraine after the Syvash deal, closed by our team a few months earlier this year. I am sure that reaching financing for the remaining 402 MW will be as successful as this deal», – said Dr. Oleksiy Feliv, Managing Partner at INTEGRITES.
INTEGRITES team included, among others, Managing Partner Dr. Oleksiy Feliv (Energy and Real Estate), partners Igor Krasovskiy (Finance/Projects), Illya Tkachuk (M&A and Corporate), Viktoriya Fomenko (Tax and Customs law), counsels Serhii Uvarov and Gennadii Roschepii, senior associates Olena Savchuk, Inna Kostrytska and Yuriy Korchev, associates Oleh Kotliar and Victoriia Shvydchenko.
LONGWING ENERGY SCA is a European IPP platform which acquires, constructs and long-term operates onshore wind and solar parks in Europe. LongWing Energy owns a pipeline of operating and development wind park projects of approx. 900 MW located in France, Poland and Ukraine. The company has a growth strategy targeting additional markets.
INTEGRITES is a full-service law firm with headquarter in Ukraine. Particularly focused on renewables, the firm represents the biggest international clients with a cumulative commitment to 2 GW of wind and 500 MW solar power projects in Ukraine which ensures the firm’s leading position on the regional market. For more information visit www.integrites.com