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The Regions This Week
February 22, 2019 www.intellinews.com I Page 7
Eastern Europe
DTEK Renewables opened Europe’s second largest solar power station in Ukraine, the 200 MW Solar Farm-1, in the Nikopol district of the Dnipropetrovsk region. The contractor was China Machinery Engineering Corporation.The solar plant should power 100,000 households, about three times the population of Nikopol city.
Rosnano, the Russian state-controlled nano- technology corporation, exited Quantenna Com- munications with a five-fold return on investment. Rosnano invested around $20mn into the US- based provider of high-performance Wi-Fi solu- tions six years ago.
The Belarusian government is worried about the deteriorating situation in the nation's agrarian sector, which is the only sector that "remains in negative territory," the country's Economy Minis- ter Dmitry Krutoi told reporters.
The European Union agreed new sanctions against Russia following Moscow's attack of the Ukrainian Navy's boats in the Sea of Azov, Vice President of the European Commission Federica Mogherini told reporters.
A VAT hike boosted Russia's budget revenues
in January. The finance ministry reported that budget revenues climbed 13.9% y/y in January to RUB1.5 trillion ($22.6bn). The growth was mainly driven by non-oil and gas revenues, which surged 25% y/y; oil and gas revenues rose just 2.9% y/y.
International rating agency Fitch Ratings affirmed Russia’s long-term foreign- and local-currency issuer default ratings (IDRs) at BBB- with a posi- tive outlook. “The positive outlook reflects con- tinued progress in strengthening the economic policy framework underpinned by a more flexible exchange rate, a strong commitment to inflation- targeting and a prudent fiscal strategy,” Fitch said.
Ukraine is going to secure the Nato Membership Action Plan (MAP) by 2023, the nation's Presi-
dent Petro Poroshenko told a special session of the parliament. The president added that Kyiv will seek membership in the European Union.
Swedish investor VNV injected $8.5mn in Rus- sia’s Busfor ticketing service in 2018. In De- cember last year Vostok New Ventures, a major Swedish investment firm operating internationally, invested $4.5mn in online bus ticketing platform Busfor, The firm hopes to sell 10mn tickets a year from which it earns 15% commission.
The Council of the European Union extended for one year a limited set of remaining sanctions against Belarus, which include an arms embargo, an asset freeze and a travel ban against four for- mer law enforcement officials.
Russian Railways is asking Russia’s government to temporarily lift a ban on the import of loco- motives engines and generators from Ukraine, reports Belprauda, a Belarussian news site. The railroad asked Russia’s Industry and Trade Min- istry for an exemption from Moscow’s December 29 ban on the Ukrainian-made parts until Russian manufacturers learn how to make their own.
Ukrainian sunflower oil producer Kernel ac- quired 100% of RTK-Ukraine, a company that owns and operates a fleet of 2,949 grain railcars. The deal’s enterprise value is $64mn, includ- ing $49mn cash consideration already paid.
Russian X5 Retail Group announced plans on Feb- ruary 19 to develop a parcel lockers network via a joint venture with Pickpoint, Russia's largest opera- tor of parcel lockers and pick-up points. The owner- ship of the JV is to be 50/50, and its aim would be to install 1,500 parcel lockers throughout the year.
Ukraine's state-owned post operator Ukrposhta increased international shipment processing
by 45% y/y to 34.4mn parcels and letter, which, among other factors, led to a 37% y/y jump in the company's revenues from international operations.