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  • Study: Chinese State Behind 40% of Company Purchases in Europe
  • In Ukraine, China’s Skyrizon Pushes Hard to Win Control of Aircraft Engine Maker
  • Political Winds Seem to Blow East
  • Chinese Company May Build Railroad in Luhansk
  • Sparked by Tracer Bullets? Fires Ravage Luhansk, but Spare Ukraine’s Largest Fertilizer Factory

Of the 650 Chinese investments in Europe over the last decade, about 40% have high or moderate involvement by state-controlled companies, including some in advanced technologies, according to an article yesterday in The Wall Street Journal. Headlined “Behind China’s Decade of European Deals, State Investors Evade Notice,” the article drew on four years of research by Dutch consulting firm Datenna BV, which combed through millions of records in China’s company-registration databases.

Noting that new EU rules to screen foreign investment go into effect from October 11, the Journal said the multi-billion euro deals are well known, but “less evident has been Chinese state involvement in hundreds of smaller deals and those without an announced price.” These small acquisitions often target advance technologies in a clear bid to leapfrog Western companies. Datenna Chief Executive Jaap van Etten tells the Journal: “When there is state influence, it’s often at a very high level.”

Skyrizon, subsidiary of Beijing Xinwei Technology Group, is pursuing a new, multi-prong strategy in its 4 year bid to win control of Ukraine’s Motor Sich, one of the world’s largest manufacturers of aircraft engines and industrial gas turbines. Last month, Skyrizon informed Ukraine’s Justice Ministry that it has started international arbitration, demanding $3.5 billion in compensation. Separately, Skyrizon and its Kharkiv-based partner, DCH Group last week filed an updated joint application with Ukraine’s Antimonopoly Committee of Ukraine to buy Motor Sich. In August, the Committee rejected an earlier application.

Finally, the Chinese ownership group sent a letter two weeks ago to each of the Rada’s 423 members asking that they conduct a parliamentary inquiry into ‘state raiding’ in the case. The Chinese say they invested $1 billion for the company only to encounter envoys from Ukraine’s ‘leadership’ demanding a portion of shares and $100 million in return for permission to exercise ownership rights. Wang Jing, a key shareholder of Skyrizon, says in a video message: “To gain a greater market share in the world’s largest, fastest growing Chinese market, to gain a stronger position in it and gain development prospects, a company must formulate and implement a strategic medium and long-term development plan.”

Japan’s Nikkei business news site highlights the military value of Motor Sich. “While Wang is bidding for Motor Sich as a private businessman, Beijing has been keen to upgrade China’s engine manufacturing capabilities to support its ambitions for production of world-class military and commercial jets as well as missiles,” the Nikkei wrote in a detailed article: “Chinese tycoon takes fresh aim at Soviet-era engine producer.” The article quotes: Douglas Barrie of London’s International Institute for Strategic Studies, saying: “The challenges of developing a high-end military turbofan engine are considerable, hence why only a small number of countries… have a national capability developed over the past six decades or so.”

 


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Five weeks ago, U.S. Secretary of State Michael Pompeo called President Zelenskiy. Citing Motor Sich, Pompeo said he “raised U.S. concerns regarding malign PRC [People’s Republic of China] investment in Ukraine.” Oleksiy Kusch, a Kyiv economist with the Growford Institute, tells the Nikkei: “The U.S. election creates a very narrow window to get this deal through since the Trump administration’s focus on Ukraine is weakened…Motor Sich is not going to be a priority for Trump or Biden for the next few months.”

Meanwhile, one key opponent of the Motor Sich sale to China is stepping out of the fray this month. Aivaras Abromavičius is awaiting President Zelenskiy’s approval to resign as head of state-controlled arms producer Ukroboronprom, Bloomberg reported in an article titled “Ukrainian Politics Again Get the Better of a Would-Be Reformer.” While not having direct control over the aircraft engine maker, Abromavičius has been an influential voice opposing ceding the company to Chinese control. He tells Bloomberg: “A fight is underway for which vector development of Ukraine will take, western or eastern.”

With no serious Western buyer for Motor Sich appearing on the horizon, Zelenskiy says Ukraine’s doors are open to Chinese investors. “Credit and investment, agro-industrial, machine-building, and transport sectors should be mentioned among the priority areas of practical cooperation,” he says in a lengthy interview with Xinhua. “Ukraine has significant scientific and educational potential, rich culture. This provides good opportunities for increasing trade and economic cooperation.” Noting that China is now Ukraine’s top trading partner, he invites Chinese President Xi Jinping to visit Ukraine.

A Chinese company is to build a 50 km railroad in Luhansk that would connect the region’s coal-fired electricity plant to the Ukrzaliznytsia system, Sergiy Gaidai, head of the regional administration told reporters. “They are ready to invest, build,” he said, according to Tribun, a Severodonetsk news site. Last February, Gaidai met in Kyiv with French Ambassador Etienne de Poncins. They agreed that France would finance the railroad construction, about €100 million euros. French financing was tied to the purchase of French equipment, notably signals. Located near the town of Schastia, on the north bank of the Severodonetsk River, the Luhansk power station supplies 1 million customers with electricity but it functions largely at the mercy of coal shipments from Russia.

The fires ravaging portions of Luhansk have spared Severodonetsk Azot, the nation’s largest producer of mineral fertilizers and employer of 4,000 workers. Brush fires that broke out Wednesday night on the factory complex were extinguished and production was not affected, reports Oleg Arestarkhov, spokesman for Group DF, the owner of the nitrogen company.

Elsewhere in Luhansk, 146 fires killed 11 people, injured at least 17 and destroyed over 250 buildings in 30 villages. With many fires breaking out near the line of the control, fear of exploding land mines prompted the closure of the Stanytsia-Luhanska checkpoint, the only crossing with Russia-controlled Luhansk. Strong winds and dry weather provided the conditions for the fires. With the fires concentrated in three districts near the line of control, residents speculate that some fires were sparked by artillery shells and tracer bullets fired from the Russia-controlled side.

Two companies have been banned from trading in securities, accused of bilking legitimate companies of $100 million over the last two years, reports National Commission on Securities and Stock Market. The companies suspected of fraudulent trading are:  ZNPVIF Portfolio Investments and ZNPVIF New Technologies. “Securities professionals [running] controlled investment funds issued fictitious loans to related fictitious companies” and then used the falsified accounts to withdraw funds from real companies, reads the statement by the State Security Service, or SBU.“

 

  • Westinghouse Tops Russia as Fuel Supplier to Ukraine Nukes
  • Renewables Double Their Slice of Electricity Pie
  • Covid Closes Rada
  • Bond Rates Rise
  • Windrose Builds Domestic Flight Network of 10 Ukrainian Cities

Westinghouse Electric Co signed a deal to raise its market share of nuclear fuel in Ukraine to 60%, from 40% last year. The deal means that a Westinghouse plant in Sweden will supply fuel for nine of Ukraine’s 15 reactors. In a case of trading places, the market share of Russia’s TVEL will fall to 40%, from 60% last year.

Since the Russia-Ukraine war started in 2014, Ukraine has gradually cut dependency on Russian fuel for its nuclear reactors. Last year, Ukraine spent almost $400 million on nuclear fuel imports. With nuclear supplying 53% of Ukraine’s electricity, Ukraine ranks seventh in the world for installed nuclear power capacity.

At the signing ceremony, President Zelenskiy haileda deepening of the diversification of nuclear fuel supplies for our state-owned Energoatom.” Patrick Fragman, President and CEO of Westinghouse, now a Canadian company, said: “With this major agreement, we extend further our commitment to Ukraine’s energy security and focus on further improving the operational excellence of its nuclear fleet.” In addition, the parties signed a memorandum of understanding that envisages production of Westinghouse fuel components by Atomenergomash, an Energoatom unit.

Renewables – hydro, solar, wind and biomass – have nearly doubled their slice of Ukraine’s electricity production, the Energy Ministry reported. Through August, renewables accounted for 13.3% of electricity production, compared to 7.1% for the first eight months of last year. Due to the recession production of electricity from all sources dropped by 6.2% through August, compared to the same period last year.

Ukraine’s coronavirus pandemic is shifting from agricultural west to industrial east, new Health Ministry figures show. Of a record 4,027 new coronavirus cases registered nationwide per day. Kharkiv oblast registered 549 cases, a record for any region since the pandemic was first detected in Ukraine seven months ago. Two other eastern regions lead the daily tally: Donetsk – 345; and Dnipropetrovsk – 271. Of detected cases, 18% need hospitalization. Of the 208,959 known cases since March, 4,129 have died – a mortality rate of 2%.

After Ukraine’s new coronavirus infections crossed the psychological barrier of 4,000, the Rada voted to postpone all plenary sessions until Oct. 20. To keep the 423 Rada members out of the hall, Speaker Dmytro Razumkov said that lawmakers will work in committees. Currently, eight Rada members are known to be “sick from coronavirus,” Yaroslav Zheleznyak, a member for Voice, writes on his Facebook page. This group includes: ex-President Petro Poroshenko; Voice leader Kira Rudik and Zhan Beleniuk, the Olympic medalist wrestler turned politician.

Concorde Capital’s Zenon Zawada writes: The new daily record for COVID-19 cases is a disturbing trend that poses the risk of renewed travel restrictions, regardless of official assurances.”

The Finance Ministry raised rates to sell $72 million worth of government hryvnia bonds at the weekly auction. About 95% of purchases were for six-month bonds. Yields were 8%, an increase of 18 basis points from two weeks ago. One-year bonds went for 9.5%, up 4 base points from one week earlier. Two-year bonds went for 10.5%, up 7 base points from two weeks ago. The auction sales volume was almost seven times larger than the previous week.

Concorde Capital’s Evgeniya Akhtyrko writes: The rising interest rates at this latest bond auction was not sufficient to boost demand for local Ukrainian bonds…The recent low volumes of raised state debt will pose problems for financing budget deficits in the coming months. In this situation, the governments will have to noticeably hike interest rates for local bonds and/or restrain budget expenditures.”

Yields on 12-year Ukrainian government Eurobonds have risen by 100 basis points, to 8%, in the last 10 days. Timothy Ash writes from London: “It’s signaling that investors are beginning to get a bit worried about the future course of reform in Ukraine, the future of IMF relations, local elections, and I guess potential for cabinet changes… I think the IMF is of the view that these structural reform issues are critical to Ukraine’s long term development and the success of this program and future programs…the Fund will adopt a ‘prove we are wrong by your actions’ approach before agreeing to a new program review mission.”

“[Ukraine’s] current team needs to look at the widening of Ukraine’s credit spreads, or increased costs of borrowing, as a reflection that the market does not appreciate what they are seeing on the reform front, and that changes need to be made,” Ash writes in an emailed analysis.  “I just wonder here how many investors would actually want to continue to finance Ukraine if they thought the current IMF program was not going anywhere, which is kind of the reality at this stage.”

Aggressively moving to become Ukraine’s leading domestic carrier, Windrose Airlines started Monday flying to its 9th Ukrainian city – Kherson. Next month, it is to add Uzhgorod. Long a vacation charter carrier, Windrose prepared for a domestic route network by receiving four ATR 72-600 regional turboprops this year. In June, it launched domestic flights from its Kyiv Boryspil hub. Today, Windrose flies to: Dnipro, Ivano-Frankivsk, Kharkiv, Lviv, Mykolaiv, Odesa, and Zaporizhia. Tickets are about $40 one-way.

 

  • Kyiv Has the Most High Rise Buildings in Europe
  • Government To Budget Money for a National Airline Based on Antonov
  • Ukraine Plans to Transfer to Investors 9 Sea Ports

Last summer’s 10-fold jump in Covid cases in Odesa is chronicled in The Washington Post in a story headlined: “In Ukraine’s Odessa, summer crowds ditched their masks. It’s now a hot spot in Europe’s ‘second wave.’” The story follows the journey of an Odesa taxi driver, Igor Trofimchuk, who took his ailing 82-year-old mother Nina to three hospitals. At the first one, she was turned away because she came on foot, not by ambulance. At a third hospital, she was admitted after a 7-hour wait. The doctor in charge of the ICU went home for the night and several patients died overnight. His mother died the next day.

Foreigners can only enter Ukraine if they have health insurance with a company that will cover full Covid-19 treatment in Ukraine, the Cabinet of Minister reiterated in a decree.

Since one week, a laboratory at Kyiv Boryspil offer ‘rapid’ PCR tests for Covid-19, delivering results in six hours. Offered by CSD Health Care, the test will cost $53, or UAH1,500. In the case of a negative test result, CSD disables the self-isolation ‘Diya’ program installed in the smartphone of a newly arrived passenger. CSD test centers are in Terminal D on the departure level and just after passport control on the arrival level. At Odesa Airport, the CSD test center is in the arrivals hall.

Due to the persistent coronavirus pandemic, Ukraine’s largest arms shows – Weapons and Security and the International Aerospace Salon – are being postponed from mid-October to May, reports the host venue, the International Exhibition Center, on Kyiv’s Left Bank.

Before Covid hit in March, 80,000 foreign students from 158 countries were studying in Ukraine, reports the Ministry of Education and Science. Addressing an area sometimes tarnished by accusations of fraud, acting Education Minister Serhiy Shkarlet says he is developing an ‘action plan’ to “introduce a transparent mechanism for recruiting foreign students for higher education, and ensure the quality of educational services provided by universities.”

Defying Kyiv’s image as a low-rise city, Ukraine’s capital has the highest number of ‘high-rise’ buildings in Europe, according to a ranking by SkyscraperPage. Defining ‘high-rise’ as 12 floors or more, SkyscraperPage counts 1,199 such buildings in Kyiv – just above runner up London, with 1,109. In third place in Europe is Moscow, which has four times Kyiv’s population, but half the ‘high-rises.’ The world’s top 10 are: New York, Toronto, Dubai, Tokyo, Hong Kong, Shanghai, Chicago, Kyiv and London.

Make history: UIA’s planned 7,615km, 12.5 hour Kyiv Boryspil – NY JFK flight will be “the world’s longest service operated by a Boeing 737-900ER,” reports OAG, the airline guide. Starting Dec. 9, the twice a week flight will make refueling stops in Keflavík, Iceland. Last year, UIA had five directly flights weekly between Kyiv and New York. The long haul jets flew 86% full, carrying 196,479 passengers, reports OAG.

Presently, Ukraine has 53 operating AN-26 planes, the model that crashed at the night of 25th of September near Kharkiv, killing 26 of the 27 Air Force personnel aboard. Aircraft ages range from 35 to 48 years, Antonov reports on the company Facebook page. Of these turboprop transports, 24 are used for civil aviation, presumably air cargo companies, and 29 for government work, largely the Ukrainian Air Force. Antonov notes that it now is producing the AN-178. This short-range, medium-airlift military transport jet is designed to replace the AN-26, which was developed in the late 1960s.

About $175 million for the creation next year of a national airline is included in a budget bill submitted by Rada members of the majority Servant of the People party. Last spring, President Zelenskiy announced a plan to create a national air carrier based on a fleet of regional jets produced by Antonov’s factory in Kyiv. The carrier would develop domestic air travel and air links with Moldova, Belarus and Georgia – three countries with experience in servicing Antonov passenger planes.

Ukraine plans to transfer nine sea ports to private investors – six through concessions and three through sales, reports the Sea Ports Authority. The ferry and container terminals of Chornomorsk are to be put up for concession within two years, Andriy Haidutskyi, chairman of the supervisory board of the Ports Authority, told a meeting of public-private executives in Kyiv.

After transferring two port facilities as concessions to international groups last summer, Ports Authority officials are confident that they can find companies interested in these concessions: the passenger terminal Odesa; the ports of Berdyansk and Mariupol on the Azov; and the ports of Reni and Izmail on the Danube. Up for sale will be three of Ukraine’s lowest volume ports: Bilhorod-Dnistrovskyi (Akkerman); Ust-Dunaisk, at the mouth of the Danube; and Skadovsk, in Kherson, facing Crimea.

 

  • Ukraine to Foreigners: Come Back
  • Corona Winners: TV Watching and Teleworking
  • Corona Losers: Travel Abroad and Book Reading
  • With Russian Railways out of Slovakia Hub, Chinese Container Trains Roll Across Ukraine to EU

With Ukraine now open to foreign visitors again, arriving foreigners are subject to the same restrictions as Ukrainians who come from abroad. Ukraine’s Health Ministry divides the world into ‘red’ and ‘green’ countries. As this bilingual list shows, ‘red’ countries have infection rates higher than Ukraine’s current level – 110/100,000 people. Travelers arriving from a ‘red’ country must have health insurance and must agree to self-isolate for two weeks, pending a positive result from a Covid 19 test.

In the month since the one-month ban on the arrival of most foreigners, Ukraine’s infection rate has increased by about 50%, to an average of 3,000 new cases a day. On Saturday morning authorities announced a record 3,833 new cases for Ukraine, including a record 447 new cases for Kyiv, the primary port of entry for foreigners. According to Worldometer’s Coronavirus chart, Ukraine ranks average: 25th in the world for the number of known cases – 201,305; and 33rd in the world for the number of deaths – almost 4,000. According to the government, Ukraine’s population is 36 million – 39th in the world.

Ukraine’s re-opening comes too late to save the Chornobyl tourism season. With the season nearing an end, 24,000 tourists have visited the exclusion zone – 70% below this time last year, Maksym Shevchuk, deputy head of Exclusion Zone Management Agency tells Ukrinform.

While many foreigners could not come to Ukraine this summer, many Ukrainians had a hard time vacationing abroad. The volume of credit card purchases by Ukrainians outside the country plummeted by 63% this summer compared to the summer of 2019, reports the Ukrainian Processing Center. Similarly, the volume of money withdrawn from ATMs outside Ukraine dropped by 47%, reports the Center, a Raiffeisen Bank International unit that processes transactions for 38 banks and 1,700 online stores in 16 countries of Central and Eastern Europe.

Inside Ukraine, transport companies carried 41% fewer passengers through August, compared to the first eight months of 2019, reports the State Statistics Service. The drops were across the board: buses – 41%; metro systems – 46%; rail – 56.5%; and airlines – 66%. Overall, about 1.7 billion trips were made.

If rising corona infections prompt the need for more social distancing this fall, working at home is popular, according to an online survey by Ukraine’s OLX Jobs, the personnel site. Of workers who had switched to teleworking, 58% said they wanted to continue. For employers, 53% praised the reduction in office rent costs; 19% cited the benefits of hiring employees from other cities to work remotely; and 17% noted a greater efficiency of work outside the usual format. The survey was conducted last month by OLX, a site that claims 2.4 million users visits every month.

For big industrial companies, the top problem created by the spring lockdown was the lack of transportation to bring employees to work, according to a survey of 82 companies largely in machine building and metallurgy. Faced with the transportation shutdown, 37% of companies cut production and 21% completely shut down, according to the survey by the Center for Resource Efficiency and Cleaner Production.

Faced with economic uncertainty, Ukrainians invested 42% more in repairing major appliances last summer compared to the summer of 2019, reports Kabanchik, an online platform for ordering services. One legacy of the April-May shutdown is Ukrainians increased use of courier services – the average check is up 20%. The use of drug delivery services has doubled, Olga Soroka, Kabanchik’s head of marketing, tells Interfax-Ukraine.

TV watching increased by 35% during the coronavirus lockdown, according to a market summary provided recently at Kyiv Media Week. Despite the jump in viewership, ad spending fell and only started to recover in July, reports BroadbandTVNews. About one third of Ukrainians watch paid video on demand services.

Ukraine’s book publishing industry, slow to move to online sales, saw the number of published titles fall during the first half of this year by 55%, to 4,608, reports Publishing Perspectives news site in an article titled: “Ukraine Book Business After Lockdowns: An ‘Almost Complete Collapse.” Alexander Afonin, Ukrainian Publishers and Booksellers Association, says: “The current situation is very difficult, if not disastrous.” Olga Pogynaiko, marketing head of Smoloskyp Publishing House, said sales were down by 65%, largely because their bookstore was closed for 2.5 months. In contrast, their internet bookshop saw an increase in sales.

Chinese container trains are to roll across Ukraine weekly in October, carrying cargo from Xian to the Soviet/EU gauge break at Dobrá, on Slovakia’s border with Chop, Zakarpattia. In September, two Chinese container trains made the 11-day trip. From Slovakia, containers go by truck or train to Austria, Hungary, Germany or the Czech Republic, reports RailFreight.com. The first train was greeted by China’s new ambassador to Slovakia, Sun Lijie, and by officials of METRANS, the Czech rail operator. The trans-Ukraine route became possible after a unit of Russian Railways dropped its 15-year lease on the Dobrá terminal in February. Sometimes called ‘the largest land harbor in Central Europe’, Dobrá and the adjoining station of Čierna nad Tisou have 916 tracks.

A Czech company, Interport, wants to develop a container terminal on the second stretch of Soviet gauge track that stretches from Ukraine into Slovakia, reports Poland’s InterModal News. Measuring 100 km, this electrified track carries iron ore from Uzhgorod to Haniska, home to US Steel Košice. The Interport terminal is served by Soviet and EU gauge tracks and can handle 275 containers a day – the equivalent of six freight trains from China. Chinese container traffic through the Belarus-Poland gauge break has doubled this year, prompting Ukraine and Slovakia to try to win some of the traffic.

Former Finance Minister Oleksandr Danilyuk has been elected chairman of the supervisory board of the National Depository of Ukraine. The State Securities and Stock Market Commission licenses that the Depository to carry out clearing and settlement of securities in Ukraine.

 

  • Aslund Quits UZ, Charging Ze Does Not Believe in Corporate Governance
  • Budget Deficit Could Crowd Out Money for Growth
  • Only Half of Road Paving Goal Met

Anders Aslund, the eminent Swedish-American economist, has resigned after two years as an independent member of the Supervisory Board of Ukrzaliznytsia, the state railway. Aslund said board members have not been paid since April 1, never received directors’ liability insurance, and have watched railroad managers ignore recommendations.

“The fundamental problem is that the President and his loud MPs don’t believe in good corporate governance,” Aslund wrote in a stinging rebuke posted in the Kyiv Post. “From the president (the only Ukrainian president that I have never met), we only receive insults and obstacles.”

Aslund said the UAH 47,000 – $1,700 – monthly salary cap imposed last April is damaging Ukraine’s civil service.  “The management boards of the big state-owned enterprises are quickly losing their most talented staff,” he wrote, referring to a policy that the IMF sees as one obstacle to extending new low interest loans to Ukraine.

Ukrzaliznytsia is the nation’s largest employer – 250,000 people – and the transportation workhorse that moves most of the Ukraine’s grain and metals to the Black Sea ports. Despite this key economic role, Aslund writes: “The government [does not] give Ukrzaliznytsia reasonable regulatory or financial conditions to modernize and become efficient (unjustified land tax, tariffs set far under cost level, insistence on massive overstaffing, etc.). These circumstances leave the company in a precarious financial situation.”

With the budget deficit looming as a problem, the government has started negotiating with the IMF to reduce it from next year’s forecast level of 6%, Prime Minister Shmyhal said at a meeting in Lviv with students of Lviv Polytechnic National University. Due to heavy spending on coronavirus and road construction, the deficit is doubling this year, to 7.5% of GDP or $10 billion.

The budget deficit should be cut in half year – to 3% – in order to allow growth, Maria Repko, deputy director of the Center for Economic Strategy told reporters at Interfax-Ukraine. “Relations with the IMF are complicated, and the Ministry of Finance proposes to finance the deficit in the domestic market, where the necessary funds may simply not be available,” she said. While investors today hold $10 billion worth of government hryvnia bonds, the Finance Ministry wants to double those holdings, to $20 billion, by the end of next year, she said.

Next year’s big budget deficit will “crowd out” money that should go to the private sector at low interest rates for development, Dmitry Sologub, deputy head of the National Bank of Ukraine, warns in an interview with Interfax-Ukraine. “You have such a large budget deficit,” he said. “You don’t allow the private sector and private lending to develop with such a large amount of borrowing.”

EU companies account for 70% or more of foreign investments in 20 of Ukraine’s 24 regions, Olga Stefanishyna, deputy prime minister for European and Euro-Atlantic Integration, said an online conference on EU-Ukraine. She said: “This means that our economy and the country as a whole are already moving in the direction of the Western world.”

Contractors have completed half of the 4,200 km of roads planned for this year, President Zelenskiy reported while on a visit to Zakarpattia. Of the 24 oblasts, Zakarpattia is the leader, with 223 km completed. With the season for laying asphalt expected to end at the end of October, it is unclear how many more kilometers will be completed this year.

On Dec. 17, UIA will resume flying between Kyiv Boryspil and London Heathrow, a route dropped in 2007. UIA will fly three times a week to Heathrow, using an Embraer E190, a jet that usually does not have business class. Also this winter, UIA will fly five times a week between Boryspil and London Gatwick, using a Boeing 737.

Windrose Airlines plans to start daily flights between Kyiv Boryspil and Uzhgorod in November, Infrastructure Minister Vladyslav Krikliy announced. Krikliy signed a Slovakiia-Ukraine treaty allowing normal functioning of Zakarpattia’s lone commercial airport. Through the end of next year, $3 million of investments are planned, notably a new runway lighting system. On a visit to the aiport, President Zelenskiy said: “Uzhgorod can be 100% sure that everything will be done here as it should.” Windrose is expected to use on the route one of its four new ATR 72-600 regional turboprops, planes capable of doing the 630 km flight in 90 minutes. By road or rail, the trip takes 12 hours.

The new $200 million runway for Dnipro airport is to be finished by the end of 2022, Kirill Khomyakov,  head of Ukrinfraproekt, the State Agency for Infrastructure Projects, tells the Center for Transportation Strategies. The agency plans to start earthworks in coming weeks on the 3,200 meter runway, a replacement for the current 30-year-old landing strip. Separately, Oleksandr Yaroslavsky’s DCH Group is designing a terminal capable of handling 3 million passengers a year, 10 times the volume of 2018.

The original English version is from our partner UBN – Ukraine Business News. For more information and news archive, go to: www.ubn.news.

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