Euro 2012 boycotts - Tymoshenko ‘solution’ aired
In the wake of allegations of violence against imprisoned former Premier Yulia Tymoshenko on misuse of power charges, and her subsequent hunger strike, there are increasing numbers of European heads of states saying that they will not attend the Euro 2012 football tournament in Ukraine (shared with Poland) this summer...

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€13.3m for wind project
The EBRD is making its first investment into wind power generation in Ukraine by organising a €13.3m financing package to Eco-Optima, a Ukrainian-Italian joint venture company, which will operate a wind farm in the Staryy Sambir area of western Ukraine. The loan will consist of two parallel tranches: a 10-year EBRD loan of €9.5m and a 15-year loan of €3.8m from the Clean Technology Fund (CTF)...

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Firtash promotes Ukraine business
Hitherto primarily known for his growing dominance in the chemicals and gas distribution industries, Ukrainian industrialist, Dmytro Firtash has been increasingly active in his civic role, primarily via his Presidency of the Federation of Employers of Ukraine (FEU), with visible support from former head of the SBU and newly appointed First Vice-Prime Minister of Ukraine, Valeriy Khoroshkovsky. Firtash spoke at a meeting of the FEU to promote improvement of Ukraine’s investment climate...

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Troubles double for Ukraine
Ukraine appears to have moved from seeking to placate both Russia and the European Union, to antagonising both. A month ago the Ukrainian government rejected the offer of a 10% discount on the price of Russian gas made by Duma speaker Sergey Naryshkin during his visit to Kyiv. The offer is believed to have been made in return for ratification of an agreement for a free trade zone within the CIS countries, rejected by Party of Regions’ parliamentary leader Oleksandr Yefremov, a move unlikely to please Russian leader Vladimir Putin...

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EBRD/UkrEximBank US$ 50m energy efficiency loan
A US$ 50m five-year loan from the EBRD to the State Export-Import Bank of Ukraine (UkrEximBank) will support lending to small businesses across the country with loans from UkrEximBank of up to US$ 3m to implement energy efficiency projects. EBRD is concentrating on support to sectors of the Ukrainian economy that are particularly affected by the adverse economic situation in the region – small businesses and energy efficiency. The former have been suffering from under-investment, linked with limited liquidity of domestic banks and various credit risks in Ukraine. The latter has become an issue of national importance in the context of Ukraine’s ongoing attempts to improve its energy security...

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SCM invests US$ 1.9bn in subsidiaries
System Capital Management Group, which controls 71% of steel holding Metinvest (METINV) and 100% of energy holding DTEK (DTEKUA), reports that last year it invested US$ 1.9bn in controlled assets, up from US$ 1.1bn in 2010. SCM said it had directed US$ 1.14bn of those investments to Metinvest and US$ 0.56bn into DTEK. SCM also said its total investments on environmental protection, health and safety and development of local communities exceeded US$ 0.63bn. The group is 100% owned by Ukrainian businessman Rinat Akhmetov.

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Winter wheat could drop by 37 to 46%
The 2012 gross harvest of winter wheat in Ukraine could be 37% to 46% less than the previous harvest, due to unfavourable weather conditions, Interfax-Ukraine reports the head of the agricultural meteorology department of the Ukrainian Weather Centre, Tetiana Adamenko as saying. "The preliminary estimates are that the gross winter wheat crop this year could be 8m to 10m tonnes smaller than last year,\\\" said Adamenko...

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New blast furnace for steel plant
Metinvest, owned by System Capital Management Group, has commissioned a new blast furnace at its Yenakiyeve iron and steel works (Yenakiyeve Steel) subsidiary, which uses the latest European steel-making technology, including the latest industrial control systems. The new furnace is designed to improve the unit’s production and environmental performance while reducing operating costs. The furnace’s bell-less charging unit, made by Paul Wurth (Luxembourg), reduces coke consumption by 5% while simultaneously increasing the blast furnace’s productivity by 5%...

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Noble increases Ukraine presence
Global commodity trader Noble Group has acquired grain-elevator owner Belgravia, the firm’s legal representative Salans reports. No price was made public for the deal, one of several acquisitions in Ukraine by international commodities traders targeting the fast-growing agriculture and food sectors...

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US$ 10m Crimean shipping loan
Sevastopol-based shipping company Yugreftransflot is to acquire two new dry cargo vessels with a deadweight of 5,190 tonnes each to diversify its business, to be purchased partly using funds from a US$ 10m EBRD loan. Yugreftransflot is implementing a new development strategy aimed at diversification of its traditional business...

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