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grains and vegetables oils. With the Sea Port Authority committed to protecting investor rights, the investments are expected to create 200 food processing and port jobs.
President Poroshenko wants to speed traffic westward with Ukraine’s first bridge across the Danube . On Friday, Poroshenko inaugurated a $4.3mn, 152-meter bridge that is to be a key link in the 295 km, M15 international highway between Odesa and Reni, Ukraine’s main Danube port. Noting his talks in Kyiv last week with visiting Bulgarian Prime Minster Boris Borissov, Ukraine’s leader said: “We have several possible places to build a bridge over the Danube.”
With Ukraine spending a record $2bn in highway construction this year,
Avtostrada, a German-Ukrainian joint venture, has opened a mobile asphalt plant in Nemyriv, Vinnytsia region . Capable of producing 160 tons of asphalt per hour, the plant will supply asphalt for the 160 km segment of the M-12 between Vinnytsia and Uman. This segment is being expanded into a 3-lane highway as part of the international transport GO corridor, which will connect Gdansk on the Baltic Sea with Odesa on the Black Sea.
Yevhen Kravtsov, acting chairman of Ukrzalizynytsia, said the company has spent a record $100mn in the first five months of this year buying new cars and fixing old ones. With a budget double that of last year, the state railroad has bought 1,605 new gondola cars and repaired 3,179 freight cars.
9.2.4 Construction & Real estate corporate news
9.2.5 Retail corporate news
9.2.6 Agriculture corporate news
Dragon Capital is negotiating to buy Kyiv’s Ocean Plaza shopping center
from TPN Real Estate, controlled by Russia’s Igor Rotenberg, Kommersant reports. The Moscow news site estimates the shopping center is worth $300mn. In January, Dragon bought Victoria Gardens, Lviv’s largest and most modern shopping center.
Sweden’s clothing chain H&M plans open in August its first store in Ukraine, in western Kyiv’s Lavina Mall. The store’s 2,900 square meters will sell include collections of clothes and household goods under the H&M Home brand. Dominique Fantaccino, Hennes & Mauritz AB CEO in Ukraine, said: “We are extremely happy to finally open our first store in Ukraine! It is a great honor for us to bring style and conscious shopping to Kyiv and inspire fans of fashion for self-expression.” H&M and its associated companies operate in 4,700 stores in 62
Ebitda of Ukraine's biggest egg producer Avangardco turned negative $9.06mn from positive $0.1mn a year ago in January-March, according to the company's interim financial results published on May 31. The company’s revenue increased 20.9% year-on-year to $41.1mn in January-March (a 5.9% decrease quarter-on-quarter) due to higher sales volume of shell eggs, the company’s key product, by 36.9% y/y (a 8.4% decrease q/q) to 493mn units. At the same time, prices advanced 55.8% y/y (or 4.1% o/q) to UAH1.76 per unit
58 UKRAINE Country Report July 2018 www.intellinews.com