- Inflation down, Prime Stays High
- Central Bank Moves to Allow Foreigners buy Hryvnia Bonds
- JPMorgan Buys $350 Million of Ukraine Eurobonds in Private Trade
- ProZorro Saves Nearly $3 Billion in 3 Years
- Train to Plane to Get Bigger
- Kyiv’s Big Bridge Will Boost Mega Development on Rybalsky
- Spain’s Acciona Invests in Odesa Solar
- Singapore’s Wilmar Invests in Yuzhne Port
- Coming Down the Tracks: Private Locomotives, Private Rail Station Management
- Russian Gas Flowing Through Ukraine Up 15%
- Ukrainian Gas Consumption Down 9%
- Heads Roll at State Oil and Gas Companies
- Kyiv Dominates IT Growth
- China to Finance a Russia Bypass: the Finland-Estonia Tunnel
- UZ Railroad Starts Selling its Scrap Mountain
- Faster Trains for Mariupol
- New Investment for Sea of Azov Ports
- Record Grain Harvest Bursts Silos
- From Farms to Ports, Investment Grows in Grain Logistics
- Arms Production: UAVs, APCs and Missiles
- US Company Builds 2nd Zakarpattia Factory
- Work to Create Ukraine-Slovakia Freight Corridor
Inflation will end this year at 6.3%, one third below last year’s rate of 9.8%, predicted Yakiv Smoliy, governor of the National Bank of Ukraine. Next year, inflation will be 5%, he told reporters Thursday.
Despite cooling inflation, Ukraine’s prime interest rate stays at 18%, a level first set six months ago, the National Bank of Ukraine reported Thursday. To combat inflation, the central bank started raising the prime rate 17 months ago, when it went from 12.5% to 13.5%. Smoliy said Thursday: “The timing of the transition to lowering the discount rate will depend on how robust the inflationary risks will be and inflation expectations improve.” Timothy Ash writes: “Solid move by the NBU to hold its policy rate at 18%, despite inflation heading lower. Prudent move given uncertainty around who wins the presidential elections – really a three horse race, with little real clarity on who will win.”
One day after a weeklong IMF review mission flew back to Washington, Smoliy predicted Thursday that Ukraine will receive a second low interest loan tranche in May. “[We] continue to cooperate with the IMF and expect to receive tranches in May and in November,” he told reporters. In December, the IMF board approved a 14-month, $3.9 billion stand-by program for Ukraine. Release of more money is contingent on Ukraine’s government making progress on anti-corruption. After noting the IMF team asked about the Constitutional Court’s recent abolition of liability for illegal enrichment, Smoliy said: “We continue to work as usual, continue to cooperate with the IMF.” The May tranche is expected to be be $1.3 billion, slightly below the December tranche of $1.4 billion.
In a key step toward allowing non resident foreign investors to buy Ukrainian government bonds, the central bank signed an agreement Wednesday with Clearstream Securities Depository. Soon, the National Bank of Ukraine is to establish a “link” with Clearstream, simplifying access of foreign investors to government domestic bonds. “Correspondent relations with the international depository will allow Ukraine to accelerate its integration into the world capital market,” said Oleg Churiy, the central bank’s deputy governor.
The National Bank of Ukraine was awarded the ‘Central Banking Award for Transparency’ Wednesday night at a ceremony in London. Selected by Central Banking magazine, previous central bank transparency award winners were: Ireland in 2017, Israel in 2016, Czech Republic in 2015, and Sweden in 2014. The US embassy in Kyiv tweeted Thursday: “We welcome the success of Ukraine in cleaning up the banking sector, and with the independent leadership the National Bank plays an important role in this transformation.”
Ukrzaliznytsia redeemed the first part of its Eurobonds for $150 million and paid a coupon yield on them. Money to repay the bonds were raised domestically, notably from Oschadbank and Ukrinfraproekt. On Feb. 13, the Cabinet of Ministers authorized the state railroad to issue up to $500 million in new Eurobonds to pay off old debt. Yevhen Kravtsov, the railroad chairman, said Ukrzaliznytsia “is always on time and fully calculated on its obligations.”
JPMorgan Chase bought $350 million worth of bonds from Ukraine’s government Tuesday, paying 98.88 cents on the dollar, reports The Wall Street Journal. The bank has been reselling them to investors at about 100.50 cents on the dollar. The Journal calculates that if JPMorgan sells all of the bonds at that price it would make a $5.7 million profit from this private sale. “In general we have a supportive environment for emerging markets, and JPMorgan is taking advantage of that,” Jan Dehn, research head at Ashmore Group, tells the Journal. ”Good for them. That’s what the market is there for.”
From the government side, the Finance Ministry announced Wednesday the re-placement of Eurobonds with a maturity period up to Nov. 2028 for $350 million, with a coupon rate of 9.75% per annum. The placement price was not indicated in the posting. With this placement, total nominal issue volume increased to $1.6 billion
In its three years of existence, the ProZorro electronic procurement system has handled 3 million tenders, saving the nation $2.8 billion, reports Maxim Nefyodov first deputy minister of economy. Open to foreign and national bidders, ProZorro posts tender details and electronically handles the bidding process.
In one step toward rebuilding Soviet-era hydro capacity, a $50 million contract was signed in Kharkiv Thursday to rebuild two of the 60-year-old power units Kremenchuk Hydroelectric Power Plant. With much of the money coming from the EBRD and European Investment Bank, the hydro turbines will be built by Turboatom and the hydro generators will be built by Electrotyazhmash. The third dam in the Dnipro cascade, the 624 MW Kremenchuk plant was inaugurated in 1959 at Svitlovodsk, or Bright Waterway. Prime Minister Groysman who presided over the signing said: “This contract provides for work for 25,000 Ukrainian workers, engineers, designers.”
China’s Great Wall Drilling Company is looking for contracts to design, drill and overhaul oil and gas wells in Ukraine, reports the Ministry of Energy and Coal Industry. On Wednesday, several officials of the company, a unit of China National Petroleum Corporation, met in Kyiv with Ministry officials “to establish mutually beneficial cooperation to involve engineering and technical services in the oil and gas sector in Ukraine.”
Estonia’s Bolt, formerly Taxify, expands its smartphone taxi hailing service to Lviv this weekend. After launching in Kyiv last June, the service expanded in December to Kharkiv. Now in 30 countries, Bolt competes in Ukraine with Uber and Uklon.
Kyiv’s single car, self propelled electric train to the plane has proved so popular that the state railroad plans to replace it with a conventional diesel locomotive pulling passenger cars, Yevhen Kravtsov, chairman of Ukrzaliznytsya, tells Segodnya news site. Marketed as the Boryspil Express, the 80 UAH ($3) ride between the airport and Kyiv Central Station is often so full that some passengers have to stand during the 35-minute trip.
Kyiv’s Podolsko-Voskresensky bridge, a city fixture since work began in 2003, is to receive $8 million to speed up construction of the seven kilometer road and rail bridge over the Dnipro. Designed to carry 60,000 cars a day between Podil and the Left Bank, the ‘bridge’ is actually an ensemble of seven bridges, four interchanges and two viaducts. If spending holds up, the bridge could be open to road traffic by the end of next year. Allocating another $8 million to the northern extension of the Green metro line, Prime Minister Groysman told Mayor Klitschko: “Kiev should be the pearl of Europe.”
One beneficiary of the big bridge will be Sergei Tigipko’s TAS group, which plans to build on Rybalsky Peninsula ‘Lipki Island City Resort’ – a complex of 36 buildings with 6,200 apartments housing 15,400 people. The development will include 43,500 square meters of leasable office space and 33,300 square meters of leasable retail space. This week, TAS’ partner, City One Development, is presenting this mega project to potential investors at MIPIM, the annual real estate conference in Cannes.
Also at MIPIM, Ukrainian Trade Guild, the real estate consulting company, is promoting $400 million worth of real estate projects in Dnipro, Kyiv, Lviv, and Vinnytsia. The stand features: Alfa Mall, Alfa Residence, Alfa District (Dnipro), LCD Europe, IT cluster Hypercube (Vinnytsia), and urban hotels Urooms (Lviv).
Spain’s Acciona Energia Global will acquire majority control of a 26 MW solar project in Odesa started by Vasily Khmelnitsky’s UDP Renewables. Last summer, Acciona announced it was joining UDP to invest €55 million to boost capacity to 58 MW in the complex. UDP has posted on its website plans to further boost capacity this year to 175 MW. Called Gudzovka-Solar-1 and Gudzovka-Solar-2, the two solar stations are located in Artsyzky, Bessarabia, 100 km southwest of Odesa city.
Holland’s AEG Power Solutions has signed a licensing agreement with Odesa’s S-Engineering LLC to manufacture solar inverters using AEG technology. A key component of solar plants, inverters convert DC power coming from a solar panel into alternating current, or AC, which can be fed into a commercial electrical grid. The first inverters to be produced in Ukraine, the AEG inverters will be eligible for slightly higher green tariffs, reserved for Ukrainian-made renewable energy products.
Singapore’s Delta Wilmar CIS LLC plans a major expansion of its facilities at Yuzhne: a new shipping berth, a soybean processing plant, and storage and handling facilities for shipping bulk agricultural cargo. In coordination, the Sea Ports Authority plans to dredge the approach channel to the new pier. The new plant will be capable of crushing 2,000 tons of soybeans a day. The terminal will store 40,000 tons at a time.
A unit of Wilmar International, one of Asia’s largest agribusiness groups, Delta Wilmar is expanding its agro products handling capacity at Yuzhne, Ukraine’s biggest port, to 1.2 million tons a year. Rajvis Veckagans, chairman of the Ports Authority, said: “This project with Delta Wilmar CIS will create 200 new jobs in the port, and increase the processing capacity of agricultural products by 600,000 tons per year.”
Nibulon, the grain producing and exporting giant, expects to open in June its newest river port, in Ternivka, Zaporizhia region, on the Ploska Osokorivka river, a Dnipro tributary. Nibulon wants to build a Black Sea terminal in Oleksandrivka, but the company waits for permits from Kherson region authorities. Docking at a string of private ports on the Dnipro, Nibulon barges made 660 trips last year, moving 2.8 million tons of grain and oilseeds, a 24% jump over 2017.
Ukrainian authorities want to restore the Dnipro to its Soviet-era role as Ukraine’s Mississippi. Meeting with Kyiv region farmers on Tuesday, Infrastructure Minister Volodymyr Omelyan noted that river cargo volumes have tripled since 2013, to 10 million tons. “And this is only the beginning,” he promised. “It is cheaper, more convenient, and, in the end, it is more logical.”
The low design of Russia’s Kerch Strait bridge cut by one third the list of ships that historically served Mariupol, asserts Vadym Chernysh, the minister responsible for displaced people from the occupied territories. “Russia restricted the height of vessels: from now on, vessels like the Panamax cannot pass through the channel,” he said, adding that metal exports from Mariupol are down by 140,000 tons a month. In addition, he said, the bridge pylons have changed currents, causing silting problems. Russia’s ports on the Azov have half the depths of Ukraine’s ports and are used largely for fishing.
A pilot program of private freight trains will start in Ukraine this year, Minister Omelyan promises. Private fleets of freight cars are increasing, but private locomotives have been banned. After the Rada rejected a private train bill in December, the government submitted a new one on Jan. 31. Without going into details, Omelyan told the Kyiv region farmers: “This year, in the experimental mode, we are introducing private traction on the railroad.” Earlier, he told UNIAN the pilot program could involve a major international rail operator working on routes that are not profitable for Ukrzaliznytsia. State railroad freight cars will increasingly be leased through ProZorro, the electronic auction platform. Omelyan told the farmers: “The price may fluctuate depending on supply and demand. Electronic auctions are anti-corruption protection.”
To test private companies running train stations, Ukrzaliznytsia plans to transfer Khmelnitsky and Mykolaiv stations to private management this year. Handling 1.6 million passengers last year, Khmelnitsky is Ukraine’s ninth busiest station. Mykolaiv was not in the top 10. The state railroad is working with the EBRD and the World Bank to benefit from models that work well elsewhere. Experimenting with these two relatively small stations is a warmup to the real prize: private management of Kyiv’s Central Station. The busiest of Ukraine’s 1,300 rail stations, Kyiv’s Central Station handled 23.4 million passengers last year.
Ukraine is closing the nation’s air space to Boeing 737-8 MAX and 737-9 MAX. The measure puts Ukraine in line with the EU, which suspended use of the aircraft after two fatal crashes. No Ukrainian airline uses the new, fuel saving passenger jets. Ukraine International Airlines plans to receive three this year, including one within two weeks.
The volume of Russian gas flowing across Ukraine to Europe was up by 15% in the first two months of this year, compared to the same period last year. Ukrtransgaz, the state gas transmission company, said that 13.8 billion cubic meters of gas passed through Ukraine’s pipeline system to the EU and Moldova. Officials for Naftogaz, the parent company, predict that volumes could drop to zero next year.
Ukrainians cut their gas consumption by 9% during the first two months of this year, compared to the same period in 2018, reports Ukrtransgaz. The state pipeline operator did not say why consumption dropped to 7.9 billion cubic meters. Household gas prices were hiked in November, a move that spurred conservation. Last year, Ukraine raised its gas consumption slightly, by 1.3% year over year, to 32.3 billion cubic meters of gas. Since 2015, 525,000 Ukrainian families have received “Warm Loans” – government credits to winterize their homes and to buy energy efficient hot water boilers.
Mark Rollins, the British energy executive who has served as chairman of the Ukrnafta supervisory board since November 2015, will have his powers ‘terminated’ in a shareholders meeting on April 30, reports Ukrinform. The state news agency did not say why the former Shell executive would leave his post overseeing Ukraine’s largest oil and gas producer.
In a wider shakeup of Ukraine’s state-owned energy companies, the government has not renewed the contract of Andriy Kobolyev, CEO of Naftogaz. Kolobyev’s contract expires in 10 days. This Friday, Oleg Prokhorenko steps down as CEO of UkrGazVydobuvannya, the state gas producer. Prime Minister Groysman criticized Kobolyev for receiving an excessively high salary and Prokhorenko for not raising gas production fast enough.
Fifteen Ukrainian IT companies are on a worldwide list of top 100 tech companies rated for consistent performance over the last decade. Inclusion on the list is based on rankings given in past years by the New York-based International Association of Outsourcing Professionals. Ten companies have their headquarters in Ukraine: AMC Bridge, Ciklum, ELEKS, Infopulse, Intellias, Miratech, N-iX, Program-Ace, Sigma Software, and Softengi. Five others do much or most of their work in Ukraine: EPAM, Luxoft, Softjourn, Svitla, and TEAM International Services. The first list included only four Ukrainian companies.
Land lines are fading out fast, especially in villages where mobile access is increasingly available and affordable, reports the State Statistics Service. For rural households, the number of land lines dropped by one quarter last year, to 564,000. In cities, households with land lines dropped by 18%, to 3.8 million. Overall, about 7 million homes and offices in Ukraine have land lines.
The government has approved a $11 million project to create an International Pilot Training Center to train pilots under EU standards to fly for Ukrainian and European airlines. Training would be divided between Kyiv’s Hostomel Antonov airport and the National Aviation University’s flight academy at Kropyvnytskyi airport, Kirovohrad. Money would be spent to upgrade the Kropyvnytskyi landing strip and to buy two flight simulators and 24 single engine, two-seater planes: 12 Italian-made Tecnams, eight Ukrainian-made Skyeton K-10s, and four American-made Cessna 172s.
Kyiv accounted for 46% of all IT vacancies in Ukraine last year, Volodymyr Kurylo, CEO of CleverStaff, tells Interfax-Ukraine. Following in the top five cities were: Lviv – 15%; Kharkiv – 13%; Odesa – 6%; and Dnipro – 6%. Demand for QA engineers grew by 67%, for front end developers doubled, and for Android developers tripled. “Based on the changes in the number of vacancies in the CleverStaff database, we can predict that within two years in Ukraine there will be a demand for 7,600 front end developers, 7,200 testers, and 4,600 Java developers,” said Kurylo, whose company develops software for applicant tracking and recruitment automation.
From Kyiv to Helsinki by train, bypassing Russia? Peter Vesterbacka, the Finnish entrepreneur behind the Angry Birds video game franchise, has signed a memorandum of understanding with a Chinese company, Touchstone Capital Partners, to arrange €15 billion to build a 100 km road and rail tunnel between Helsinki and Tallinn. Although the two cities face each other across the Gulf of Finland, the rail connection requires an 800 km detour through Russia. In addition to building the world’s longest undersea tunnel, the Chinese investors would build four stations and provide high speed trains. Completion would be by 2025, also the target year for completing Rail Baltica, a high speed European gauge railway connecting Tallinn and Warsaw. This year, Ukrzaliznytsia expects to extend its new Four Capital train to Tallinn. Launched last fall, this overnight train runs twice a week on a south-north route: Kiev – Minsk – Vilnius – Riga.
Ukraine is more than doubling exports this year of a niche grain: rye. From last July to this January, Ukraine exported 85,000 tons of rye, 123% more than the total exports for the last marketing year, reports UkrAgroConsult. Rye is used for bread, beer, some whiskeys and horse feed.
Rusting landscapes familiar to train riders may gradually improve as Ukrzaliznytsia starts to turn its scrap steel into cash. On Monday, Metinvest agreed to pay $7 million for 26,800 tons of railroad scrap sold at auction on the ProZorro auction platform. This year, the state railroad plans to earn $75 million from scrap metal sales. With about 450,000 tons of metal for sale, it will take at least two years to work through Ukrzaliznytsia’s scrap mountain.
To cut the isolation of the Sea of Azov, Ukrzaliznytsia launches on March 30 a Kyiv-Mariupol ‘Night Express.’ Running every other day, the ‘express’ will cut two hours off the route, reducing it to 14 hours and 44 minutes.
Starting March 31, trains will travel daily from Mariupol to Kharkiv, Ukraine’s second largest city and home to a major international airport. These overnight trains will take 12 hours and 40 minutes.
Mariupol plans to inaugurate a $6 million modern grain terminal by August, in time for the new harvest, Igor Barsky, port director, tells the Center for Transportation Technologies. To drum up business, a major national conference, Grain Logistics and Terminals of Ukraine, will be held in Mariupol on June 12.
With half a billion dollars worth of wind projects planned for Ukraine’s Sea of Azov coast, Berdyansk is becoming a major port of entry for the massive wind turbines. DTEK and China Machinery Engineering Corporation plan to send 63 turbines through Berdyansk this year. Already, in January, 26 wind turbines were unloaded at Berdyansk Starting last May, Russian border patrol boats have intermittently harassed commercial ships heading for Berdyansk and Mariupol.
Asket Shipping has increased grain storage capacity at Berdyansk port to 100,000 tons, a 42% increase over last year. The company built a new warehouse and expanded an existing one, Victoria Abreyeva, Berdyansk director for Asket, tells the Center for Transportation Technologies.
Bids are accepted until March 26 on a ProZorro tender for major repairs at the main berth of Berdyansk port. Later this year, the Seaports Administration plans to put up for tender work on the second berth. The first job is to cost $140,000.
Russia and Ukraine have quietly set 2019 quotas for the Sea of Azov fish catch. After representatives of the two fishery agencies could not reach agreement in face to face meetings last fall, diplomats set the quotas for the catch – anchovies, sprat, gobies, herring, mullet and taran. When 95% of the total limit is reached, both sides are to stop fishing. Three decades ago, the Azov was the Soviet Union’s nation’s productive fishing area. Last year, Ukraine caught 21,300 tons of fish in the Azov. Ninety Ukrainian businesses used 811 fishing boats, employing 3,670 fishermen.
To help the Azov Sea ports, the Infrastructure Ministry plans to exempt Mariupol and Berdyansk from contributing to the state budget, leaving that burden to Ukraine’s 11 Black Sea ports. Minister Volodymyr Omelyan said: “We will not leave our two Azov ports in trouble. All the resources of the state will be sent to help. Together with the European Commission and our American partners, we are developing a project of financial assistance to improve the infrastructure of both ports and cities as soon as possible.”
The EU is to announce in coming days details of €50 million in road, rail and port aid to Ukraine’s Azov. At a recent meeting with EU officials in Brussels, Hennadiy Zubko, Ukraine’s regional development minister, talked about “the infrastructure gap between the Sea of Azov region and the rest of the country.”
AzovAkvaInvest Park, a 16-hectare industrial park in Mariupol, has been registered by the Economic Development and Trade Ministry. The goal of the park is to create 665 jobs in light industry. Ismail Hacioglu, a Turkish entrepreneur, has signed a memorandum with the City Council to build an assembly plant for elevators, escalators and home lifts.
With Swedish and USAID aid, much of Mariupol’s Chess Club has been converted into an IT-Hub. In addition to providing space for IT startups, the IT-Hub provides classrooms for Beetroot Academy. Since opening in Mariupol 18 months ago, Beetroot Academy, a Swedish-funded NGO, has trained 100 local students in skills needed to work for international IT outsourcing companies.
Ukraine lost up to 15% of its record 70 million ton grain harvest due to improper storage and handling in transport, estimates Pro-Consulting. Investment is needed in silos and elevators. Competition is needed among the grain handling facilities at the nation’s 13 seaports, reports UNIAN, citing the Kyiv-based market analysis firm.
Construction starts this summer on a $12 million grain storage and processing complex in the Bila Tserkva industrial park. Designed to ship gain by truck or train, the complex is to have the capacity to accept 3,000 tons of grain a day. In the summer of 2020, Volytsia-Agro LLC plans to open the complex which will have an elevator, grain dryers and silos for wet and dry grain. Vasyl Khmelnytsky, owner of the farming company and the industrial park, made the announcement on Facebook.
Epicenter K Group is expanding its modern silo storage capacity to 1 million tons at eight locations, Svitlana Nykytiuk, tells Interfax-Ukraine. In July, the farming group plans to launch the first $30 million phase – 500,000 tons in four locations. While building rail tracks to two silos, the company also is spending $6 million to buy 100 grain trucks.
Kernel, the agro giant, opened its new grain export terminal in Chornomorsk last month, adding one million tons of throughput capacity. By the end of this year, the company is to open a second phase, increasing its Chornomorsk throughput by an additional three million tons. Last month, Kernel, Ukraine’s largest vertically-integrated agribusiness, bought railcar company RTK-Ukraine. Dragon Capital writes: “With almost 3,000 grain hoppers, at a estimated valuation of $64 million, [Kernel] almost met its grain transportation needs, complementing the existing fleet of 500 wagons.”
As demand grows to move grain, Sergey Tigipko is talking with foreign investors about expanding his grain wagon fleet as much as seven times, to 10,000 wagons. Tigipko, owner of TAS-Logistic, tells Novoye Vremya that his company now has 1,200 grain carriers.
Ukrzaliznytsia has posted on its website a list of 301 ‘low-performing’ grain stations that are candidates for closure. During the last harvest season these stations averaged less than 2.3 grain cars a day, Andrei Ryazantsev, director of finance at the state railroad, tells the Center for Transportation Technologies. Last summer, Ukrzaliznytsia announced that 130 grain stations received less than one car a day. One grain hopper typically carries 70 tons of grain.
Ukraine is the world’s largest exporter of millet, a grain used for food and fodder, according to Mordor Intelligence. The smallest of Ukraine’s grain exports, millet goes largely to Germany and South Africa. Ukraine exported 76,000 tons in 2016. By comparison, Ukraine expects to export 49 million tons of grain in the marketing year that ends this June.
Ukraine, South Korea and the US are working with Science Technology, a Saudi company, to design and build an unmanned combat aerial vehicle capable of carrying tons of weapons. Details of the long range ‘unmanned bomber’ were revealed at IDEX 2019, a recent defense show in Abu Dhabi, reports Defense Blog news site. Citing interest by Middle East and North Africa militaries, the Washington-based blog reports: “The UCAV fleet in the region is forecast to increase from dozens of aircraft in 2018 up to 700 combat drones in 2028.”
Ukrspetsexport, the military import-export agency, is building an armored vehicle assembly plant in Myanmar, reports Defense Blog. Equipment and production machines have arrived in Yangon for a plant that is to start operating next year, reports Defense Blog. The plant will assemble 8-wheeled BTR-4U armored personnel carriers, designed by Kharkiv’s Morozov Design Bureau. From the same Kharkiv company, the Myanmar plant will build 2S1U self-propelled Gvozdika howitzers. After Myanmar’s Buddhist majority government forced much of its Muslim minority to flee to Bangladesh, the US and the EU expanded existing bans on sales of arms and equipment that can be used for internal repression.
US-based Curtiss-Wright Corporation has signed an agreement with Kropyvnytskyi-based RadICS LLC to market their nuclear power safety systems to US power plant operators. Under the agreement signed recently in Dallas, the Idaho Falls unit of Curtiss-Wright will be the US stocking facility for all RadICS system components for the Kirovohrad region company.
US-owned Jabil Circuit Ukraine, Ltd. is building a second electronics assembly plant in Zakarpattia, 300 meters south of the main rail freight yard for trains to Slovakia. The new, 20,000 square meter plant will be five km south of Uzhgorod and adjacent to Jabil’s existing plant, a workplace for 2,300 people. The new plant is to employ 1,300 people assembling mobile phones, media players and computer equipment for export to the EU.
Slovakian and Ukrainian officials want to speed east-west freight and passenger rail traffic by developing logistics terminals in Košice and Mukachevo and a joint customs and border control point in Chop, reports Railwaypro news site. At a bilateral meeting, Infrastructure Minister Volodmyr Omelyan cited Ukraine’s new double track tunnel through the Carpathians mountains, saying: “After the opening of the Beskidy rail tunnel, the transit though the territory of Ukraine and Slovakia can increase by several times.” Dana Meager, from Slovakia’s Finance Ministry, said: “The development of a logistics complex in Košice can turn Ukraine and Slovakia into a gate between Asia and Europe and into a one big logistics hub.”
ActiveChat, a Kyiv-based chatbot software company, hit the top of sales charts last month at AppSumo, the Texas-based deals website for digitally distributed online services. ActiveChat sold 10,800 subscriptions during the last two weeks of January, making it the period’s bestselling Software as a Service, or SaaS. The previous record for a Ukrainian company was DepositPhotos, which sold 8,000 subscriptions on AppSumo. Believing in the future of voice-activated chatbots, Sergei Kostyukov, the company’s managing partner, is talking with potential American investors with a goal of increasing ActiveChat’s market cap 10-fold in the next three years.
The original English version is from our partner UBN – Ukraine Business News. For more information and news archive, go to: www.ubn.news.