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UBJ AM News: Dec. 21, 2016
The European Investment Bank gives Nibulon a $71 million loan, ArcelorMittal Kryvyi Rih won a court case on environmental damage, and agricultural turnover between Ukraine and Egypt reached $1 billion
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

•The European Investment Bank is loaning Nibulon $71 million to help the company develop and modernize logistic infrastructure in Ukraine, multiple news outlets reported. Nibulon seeks to build up to 10 modern elevator complexes, including on the Dnipro and Southern Bug rivers, bringing its total grain storage capacity to 2.5 million tons. The company also intends to rebuild its shipyard, have up to 15 ships and process up to 15,000 tons of metal a year.

•Naftogaz recorded a more than hundredfold increase in net profits in the January-September period with a total of nearly $1 billion, multiple sources reported. Chairman Andriy Kobolev has predicted that the company will see $795 million in net profit in 2016.

•ArcelorMittal Kryvyi Rih won its $2.7 million case on environmental damage at the Higher Economic Court of Ukraine, according to Interfax Ukraine. The ruling overturns a decision by the Dnipropetrovsk Economic Court of Appeals.

•Ukrainian Finance Minister Oleksandr Danylyuk said that state-run Oshchadbank and PrivatBank, which was nationalized this week, may merge in the future, Ukrinform reported. But he said that for now, the government is focusing on a development strategy for PrivatBank. The Cabinet distributed $1.2 million for implementation of nine projects in the regions, according to Interfax Ukraine. Five of the projects are in health care, two are in education, one is in transportation and one is in heating project. The funding went to the Volyn, Donetsk, Zhytomyr, Zakarpattia, Ivano-Frankivsk, Lviv, Poltava, Kherson, Khmelnytsky, Cherkasy and Chernihiv regions.

•In the first 10 months of 2016, agriculture sector turnover between Ukraine and Egypt registered $1 billion, Ukrinform reported. It quoted Deputy Minister Olha Trofimtseva as saying that Egypt is the gateway for Ukrainian agricultural exports to reach other African markets.

•Ukraine's national utilities regulator said the wholesale price of electricity is expected to fall 15 percent in 2017, multiple sources reported.

•Ukraine saw a 2 percent rise in GDP in the third quarter of 2016 year over year, according to an updated report provided by the State Statistics Service, Unian reported. The calculations don't include the Donbas and Crimea.

•Belarusian startup Eightydays.me started operations in Ukraine and is working on a mobile app that will allow users in Kyiv to search itineraries for travel from the city to points all over Europe and eventually the United States as well, Ain.ua reported. People in Lviv and Odesa will be able to use the app in the future.

•A court in the Odesa region declared the Odesa Cogeneration Plant bankrupt, Interfax Ukraine reported.

For comments and news tips, please email UBJ AM editor David Edwards at david.edwards@theubj.com.

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