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enterprise Zhytomyrvodokanal. Deputy Prime Minister, Minister of Regional Development, Construction, Housing and Utilities Services of Ukraine Hennadiy Zubko, in turn, congratulated Zhytomyr with the launch of such an ambitious project and expressed belief that the city has all chances to become Ukraine's first city having its own solar power plant. "Financing the project: credit facilities plus financial support from the government of Slovenia plus city guarantees," Zubko wrote on his Facebook page. He also noted that the future effect for Zhytomyr is about EUR1.65mn of additional revenue per year, and also the reduction in carbon dioxide emissions.
9.2.10 Metallurgy & mining corporate news
Coal production falls . Ukraine’s coal mines extracted 2.55mn tons of coal, 94.2%. of the planned target, Ukrinform reports. Production from mines managed by the Energy Ministry totalled 308,700 tons, 78.7% of the planned target.
The Ebitda of Ukraine's largest steelmaker Metinvest increased 2.7% month-on-month to $231mn in April, according to its monthly results published on July 18. The company’s revenue contracted 2.7% m/m to $1,066mn; its operating cash flow before working capital changes decreased 8.1% m/m to $181mn, whereas cash flow from operations (before profit tax and interest) jumped 6.6-fold m/m to $164mn in April. Metinvest reported a cash inflow from investment activities of $129mn (vs. an outflow of $49mn in March) due to dividends received in April of $193mn. Metinvest’s cash inflow from financing activities amounted to $118mn and its end-of-month cash balance jumped 2.5-fold m/m to $643mn. Dmytro Khoroshun at Kyiv-based brokerage Concnorde Capital believes that the huge increase in Metinvest’s cash balance during April emphasises the risk of Metinvest deciding to pay dividends to support its controlling owner, the SCM group, which might need to pay a $821mn legal bill .
Pipe production at Ukraine’s largest producer Interpipe was 2.27 kt per day (or 68.0 kt per month) in June , a 3.8% m/m increase in average daily terms, according to Concorde Capital’s analysis of a July 20 news report by Interfax-Ukraine. Interpipe NTRP pipe production rose 2.6% m/m to 0.87 kt per day in June. Interpipe NMPP output plunged 29.5% m/m to 0.24 kt per day. Interpipe Niko Tube output jumped 16.0% m/m to 1.16 kt per day. In the first half of 2018, Interpipe’s pipe production was 382.8 kt, or 24.3% more y/y. In a separate news report, Interfax said that Interpipe Steel’s output of crude steel was 2.90 kt per day in June, a 0.1% m/m decrease. The the first half of 2018 steel output at Interpipe Steel was 492 kt, a 22.1% y/y jump. Interpipe’s daily pipe production volume is above 2.1 kt for the fifth month in a row. The firm's year-on-year dynamic is strong.
58 UKRAINE Country Report August 2018 www.intellinews.com