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produces products under the Kölner Zucker and Diamant Zucker brands. The Hnidavsky sugar factory is a sugar production enterprise located in Lutsk, which makes products under the Solodko trademark. The plant can process up to 6,000 tons of sugar beets per day.
The Time investment group is completing the construction of two plants in the Cherkasy region for UAH 280M. The group invested more than UAH 100M in constructing a plant for processing millet into flour and UAH 180M for processing corn into groats and flour, company founder Yuriy Tkachenko said. He added that Time is holding a tender to move a potato processing project forward. All projects will be implemented in 2023-2024. The planned capacity of the corn processing plant is 100,000 tons of corn grits and flour. Turkish company TANIS Milling Technologies installed equipment at the plant, and a grain storage facility with a capacity of about 16,000 tons was built for UAH 26.88M. The products will be sold on the domestic market and exported. In the millet processing project, 80% of the equipment was provided by domestic manufacturers. The rest was supplied by the world's leading manufacturer of processing equipment, Buhler.
9.2.7 TMT corporate news
An American investment company became a new shareholder of the largest IT company in Ukraine. AllianceBernstein acquired 6.1% of EPAM Systems' shares, according to data from the US Securities and Exchange Commission website. Based on quotes for EPAM Systems, the market value of the block of shares purchased by the fund is $777.3M. As of August 2023, the market capitalization of EPAM Systems is $13.93B. The highest share value was observed at the end of 2021 at $700 per share, but due to the full-scale invasion began, they fell to $200. EPAM shares are currently trading at $240.44. The main shareholders of EPAM Systems are Vanguard Group, BlackRock, Morgan Stanley, WCM Investment Management, JPMorgan Chase & Co, and Arkady Dobkin. AllianceBernstein is an asset management company that has clients that include both individuals and large enterprises.
9.2.9 Utilities corporate news
9.1.10 Renewables corporate news
Total debt to Ukrenergo reaches UAH 59 bln, continues to grow says CEO. At present, the total accounts receivable of market participants to NPC Ukrenergo has reached UAH 59 billion and continues to grow, despite the increase in tariffs for the population from June 1 and price caps on the spot electricity market from July 1 of this year, head of the board Volodymyr Kudrytsky has said.
A Vinnytsia poultry farm will receive a $30M loan from the IFC for biomethane production. According to the IFC, the funds will finance the plant's modernization and expansion in order to produce biomethane from agricultural waste. The first stage, financed under the project, will demonstrate the viability of liquefied biomethane production. The total cost of the project is estimated at $52M. In addition to the IFC loan, the MHP agricultural holding, which includes the poultry farm, also will invest its own funds. It is assumed that the project will also be supported by a $15M guarantee from the European
78 UKRAINE Country Report September 2023 www.intellinews.com