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engineers believe they have crafted Ukrainian substitutes for all Russian parts, Sergey Omelchenko, first deputy general director of Ukroboronprom, tells TV channel Direct. Capable of carrying 230 metric tons of cargo, these four engine workhorses are carry military and civilian air cargo around the world.
Ukraine’s battered state-owned railway monopoly Ukrzaliznytsia needs UAH1tr ($36mn) of investments into the development of infrastructure and fixed asset , according to the company's acting board chairman Yevhen Kravtsov, Ukrinform news agency reported on December 12. Ukrzaliznytsia is in technical default of its Eurobonds as it did not manage to restructure its banking loans by the September 15 deadline. In late 2016, holders of $500mn Eurobonds maturing in 2021 agreed to extend the cross-default waiver until end-2017. Meanwhile, Ukrzaliznytsia director of economics and finance Andriy Riazantsev said in early December that Ukrzaliznytsia invested more than UAH6.8bn in updating rolling stock and infrastructure from the funds received for the increase in cargo traffic that were transferred to the special investment account of the company in January-October. These funds include, specifically, an advance payment for 30 General Electric's trunk freight diesel locomotives worth over UAH1.1bn.
Ukrzaliznytsia (Ukrainian Railway) was recognized as dominant on freight railcar market. Ukraine’s Antimonopoly Committee concluded its investigation on market power of Ukrainian railway operator Ukrainian Railway, the committee reported in its January 17 press release. Based on its study, the committee concluded that the company is monopoly provider (with a 100% market share) in the segment of providing railway infrastructure (access to rails), mainline locomotives (traction services) and goods transportation by railway. Also, the committee concluded that the company has signs of dominance (market share exceeding 35%) in freight railcar rent on the Ukrainian market. Based on its study, the committee “provided suggestions to the Cabinet of Ministers, the Infrastructure Ministry and Ukrainian Railway,”, which nature it did not disclose in the press release. The committee promised to publish a full version of its report in the nearest future.
Ukraine’s Cabinet of Ministers appointed Yevhen Kravtsov as the new CEO of Ukrzaliznytsia (Ukrainian Railway) on January 10. Kravtsov was recommended as CEO by the company’s supervisory board, which considered no other candidates. Kravtsov was appointed acting CEO of the company in August 2017, after the company’s previous CEO resigned due to a conflict with the infrastructure minister. “We view this news as slightly positive for the company, as Kravtsov and his team have proven to be efficient reformers of Ukrainian Railway. Among his key achievements is starting deregulation of railway rates (which the company hadn’t been able to secure for two decades), intensifying renovation of the company’s rolling stock, as well as initiatives on efficiency improvements in the company,” Alexander Paraschiy of Concorde Capital said in a note. “With this enhancement in authority, we expect Kravtsov will intensify his efforts to restructure the company and make it more efficient. Among the key short-term challenges for Ukrainian Railway is the scheduled repayment of $300mn in Eurobonds this year, the refinancing for, which has yet to be found,” Paraschiy added.
Ukrzaliznytsia (Ukrainian Railway) increased passenger traffic by 7% in 2018, the acting chairman Yevhen Kravtsov told a government meeting on January 10. "The year 2018 was the year of rapid growth of passenger traffic, which grew by 7%. There was a significant increase in international traffic. We
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