Page 113 - UKRRptDec23

and support of this agreement by the Cabinet of Ministers," Black Iron emphasized. President Volodymyr Zelenskyy supports the Shymaniv mining and beneficiation plant's multibillion-dollar development project. According to Black Iron, the Ukrainian government's support of the investment agreement will be an essential signal for international investors. Black Iron Inc. is a Canadian iron ore exploration and production company headquartered in Toronto, Canada. The estimated investment amount in the Kryvyi Rih project is $1.1B, and is based on projected production of eight million tons annually.
9.2.12 Other sector corporate news
A Ukrainian company has started production of biodegradable packaging and plans to meet the needs of the country's food segment. Ukrainian company Studiopak is now entering a new market niche - the production of biodegradable packaging with the help of a grant won under the New Level program for processing enterprises. The Ministry of Economy reported that entrepreneurs can receive up to ₴8M for business development through the program. With the grant funds, the company bought equipment for a new production. It should be noted that after the war began, Studiopak left the Russian and Belarusian markets. The company’s plant in Ukraine was located five km from the war zone. Equipment and production lines were transported to partners in the Ternopil region to resume production there. The company's partners continued to place orders, which saved the business. However, foreign orders practically stopped due to the possibility of contract disruption.
Dragon Capital strengthens its influence on the Ukrainian market. Tomas Fiala and Oleksandr Svishchov are close to acquiring the T.S.B. Firm’s permits, allowing the extraction and sale of mineral waters in the Lviv region. T.S.B. has three valid special permits to produce iodine-bromine industrial water and mineral water from two fields and controls the Naftusya mineral water plant. On June 23, the company Truskavetska was registered in Ukraine, the ultimate owner of which is Tomas Fiala - Dragon Capital. On August 31, the Lev closed a non-diversified venture corporate investment fund (owner Oleksandr Svishchov) and bought a share in the authorized capital of Truskavetska, which ensures 50% of the votes in the company's highest management body. The acquisition of T.S.B. Firm will allow Dragon Capital to increase its influence on the mineral water market and concentrate all Truskavetska production capacities under its control. If the deal is closed, Dragon Capital will control nine special permits for underground water extraction.
113 UKRAINE Country Report December 2023 www.intellinews.com