The Business Week for the week of October 19-25, 2020

The Business Week for the week of October 19-25, 2020


Data center to be built next to the Rivne nuclear power plant

Energoatom, Bitfury Group, and Rivne Regional State Administration will be jointly working on the implementation of the data center construction near the Rivne nuclear power plant. The project will be the first of its kind in Western Ukraine. Initially, the facility’s capacity is envisaged at  250 MW with further stepping up to 500 MW.  Today, the data centers can make use of the surplus power generated thus increasing its computing power. The cooperation between the companies in the energy and IT sector can be beneficial for both sides as well as facilitate the creation of new knowledge-intensive jobs which bring valuable input into the sustainable economic development of the region. The Bitfury Group is the world’s leading emerging technologies company, using cutting-edge technologies such as artificial intelligence, blockchain, bitcoin, and high-performance computing.


The new terminal at Zaporizhzhya airport has been officially opened

It’s vital for regions to have a well-developed infrastructure, including the availability of modern airports. On October 19, the first “Zaporizhzhya-Kyiv” flight departed from the newly opened terminal.  It’s estimated that the new terminal will be able to handle up to 1 million passengers a year. Zaporizhzhya International Airport, a major transportation hub for eastern and south-eastern regions of Ukraine, has been steadily increasing passenger traffic year over year.

The first phase of one of the largest onshore wind farm in Europe is in full swing

EuroCape installed the final wind turbine within the first phase of the Zaporizhzhya wind farm construction! The first phase envisages the installation of 27 wind turbines with 3.6 MW capacity. Once completed, the wind farm will be one of the biggest onshore wind farms in Europe. The project is expected to bolster Ukraine’s energy security and significantly increase the power generation capacity. EuroCape is a renewable energy company that aims to develop, construct, and operate renewable projects in core European markets. 

Ministry of Infrastructure keeps actively working on the implementation of PPP projects

During the conference “Privatization and concession in transport sphere 2020-21: next steps”, the Minister of Infrastructure of Ukraine Vladyslav Krykliy stated that the concession auction for the railway-ferry terminal in Chornomorsk seaport will be announced in the 2Q of 2021. As of now, the selection of the company that will provide consultancy on crafting the feasibility study is taking place. Currently, Ernst&Young and Hamburg Port Consulting have been admitted to the auction, the winner will be selected in the upcoming week. 

Ukraine feeds 150 million people worldwide

According to the Deputy Minister of Economy Taras Vysotsky, Ukraine is supplying food to over 150 million people globally, while having its own population at just over 40 million. This number could be doubled if Ukraine starts vividly integrating innovative technologies in food production, attracting more investments in the agri sector, and actively engaging in the global food supply chains. Even in challenging times of pandemic, Ukraine remains a reliable trade partner for countries that are in demand for agricultural products. 

Harvesting campaign 2020: Ukraine reaped 47,4 million tonnes of wheat

Ukrainian farmers harvested overall over 62 million tonnes of main crops out of 20 ha of agricultural land. In particular 47,4 mln tonnes of wheat, 11 mln tonnes of corn, 11 mln tonnes of sunflower seeds, 2 mln tonnes of soybeans. The leaders in crop harvesting among the Ukrainian regions were Kharkiv, Dnipropetrovsk, Vinnytsia, and Poltava. 

Fitch affirms 4 Ukrainian state-owned banks – outlook stable

Four Ukrainian state-owned banks JSC CB Privatbank (Privat), JSC State Savings Bank of Ukraine (Oschad), JSC The State Export-Import Bank of Ukraine (Ukrexim), and Public Joint-Stock Company Joint Stock Bank Ukrgasbank (Ukrgas) have been affirmed the Long-Term Issuer Default Ratings (IDRs) by Fitch Ratings at ‘B’ with a stable outlook.  Read the full list of rating actions

Doing business in Ukraine: 8 negative myths to be shattered 

Foreign investors sometimes have a wrong misperception of doing business in Ukraine. Read a short article by “The Odessa Journal”, which debunked the 8 most common misinterpretations and focused on the most recent improvements in the business climate that Ukraine has achieved.  

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