Business news from Ukraine

UNITED MINING-CHEMICAL COMPANY INVESTS OVER UAH 1 BLN IN TECHNICAL RE-EQUIPMENT

8 August , 2018  

Public joint-stock company United Mining-Chemical Company, managing Vilnohirsk Mining and Metallurgical Combine (Dnipropetrovsk region) and Irshansk Mining and Processing Combine (Zhytomyr region), in four years after its creation has sent over UAH 1 billion in technical re-equipment and upgrade of assets, and its charter capital grew to UAH 3 billion in 2018 from UAH 1.9 billion in 2017. Acting Board Chairman Oleksandr Hladushko said in an interview posted on the company’s corporate website that on August 12, the company will celebrate the fourth anniversary.
“Our branches were returned from the lease to the management of United Mining-Chemical Company in September 2014. And the main task that the government put at that time was to increase the payments to the national budget, which is impossible without seeing profit… We successfully coped with this task: if in 2014 the state received taxes and mandatory payments from the company at the level of UAH 16.9 million, then in 2017 it was UAH 875.7 million,” Hladushko said. At the same time, he recalled that in 2017, the company paid dividends to the state in the amount of UAH 321.8 million, this year – almost UAH 333 million.
The head of the company pointed to the technical readiness of the branches to independently perform production tasks: “If immediately after the lease, the availability of special equipment did not exceed 50%, then in 2018 it grew almost twice thanks to investments and reached 90%, especially at Vilnohirsk Mining and Metallurgical Combine.

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