$200 m loans for Lukoil-Odessa refinery
The Cyprus-registered company SLB Invest Limited has opened a credit facility of US$200 m for the establishment of the Lukoil-Odessa refinery. This facility is in place for just under a year and will be used for supplement and replenishment existing capital reserves. The first tranche of US$4.8 m has ....

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Rental legislation clarified
Ukraine’s Verhovna Rada has adopted bill №4681 which clarifies the procedure for state registration of the property rents. Registration of the lease should be - at most - 14 days from the date of application. The fee for this....

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Vanco court action suspended
The court case between Vanсo International Ltd and the Ukraine government has been suspended with arbitration underway in Stokholm for the next three months and the process of negotiation now underway. In October 2007 the Cabinet of Ministers of Ukraine, led by Viktor Yanukovich and Vanco International (Bermuda Islands), signed an agreement....

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Nemiroff purchase fails
The Polish alcohol holding company Central European Distribution Corporation (CEDC) officially announced its decision not to buy Nemiroff, which owns one of the most popular alcohol brands in Ukraine. At the beginning of the year the CEDC announced....

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Operating licence regulations to be slashed
Ukraine President, Viktor Yanukovich, has promised to halve the number of permissions required to be obtained by investors to open a business in Ukraine. “This year we plan to reduce the number of licences which create barriers to the establishment of new companies by around 50%,” said Yanukovich. He added that ....

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Privatisation limited to five-year period
Ukraine plans to undertake a vast sale of state assets over the next five years. Following recent changes in legislation, very many state companies are to be sold off during this period with the aim of raising between Hr 50bn to 70 bn (US$6.3 bn to $8.9 bn), tripling capitalisation of state assets. Once this period is completed the government intends to call a halt to the privatisation process. The State Property Fund of Ukraine has introduced...

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Hotels fail to attract investors
The Ukrainian authorities have promised to support planned investment in hotel construction ahead of the Euro 2012 soccer tournament. But experts at a recent conference in Kyiv say that the market is not attractive to investors right now owing to declining occupancy rates, the high cost of borrowing money and an ‘irresponsible’ approach from international chains. It is forecast that this situation will not change for three to five years.

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RosUkrEnegro wins court claim
Last month the Stockholm arbitration tribunal awarded 50% Ukrainian-owned RosUkrEnergo the return of 11 bn cu m of gas from Ukrainian state oil and gas company Naftogas which must also pay a fine of 1.1 bn cu m of gas. RosUkrEnergo is jointly controlled....

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China to invest up to $US20 bn
Ukrainian Prime Minister Nikolay Azarov is leading negotiation with Chinese corporations which may invest between US$5 bn to US$20 bn into the Ukraine economy. To date the names of the Chinese companies involved have not been disclosed. However, it is known that ....

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‘Lugansk diesel locomotive’ plant re-sold
The State Property Fund of Ukraine has a new owner for a 76% shareholding in the Lugansk diesel locomotive plant, the country’s biggest manufacturer of electric trains, cargo diesel locomotives, and trailer cars. The purchaser is Russia’s Bryansk machine-shop part of the Transport machine-building holding company (75% owned by Iskander Makhmudov and Andrey Bokarev). In the competition, organised by the State Fund, two participants.....

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