Daily News

  • Stakhanov Ferroalloy (SFER) To Build Thermal Power Plant By 2007

    According to the company, construction of its own TPP will cost about USD 35 mn. This will allow the company to provide its own electricity, which is now purchased from the wholesale market and regional distributor. Concorde Capital: The Stakhanov Ferroalloy is located in the Luhask region, close to the thermal plants of Donbasenergo, Vostokenergo and Uglegorsk TPP of Centrenergo. The company possesses a license to supply electricity. Therefore, commissioning the TPP, which will have a capacity of 1 TWh of electricity, will increase competitive pressure the TPPs in the Donetsk and Luhansk regions. SFER plans to invest USD 16 mn in modernization and boost output 88.7% to USD 141.2 mn in 2005. The plant launched production of silicomanganese in 2004 after retooling two of its eight furnaces. Pryvatbank group controls the plant.

  • Zaporizhtransformator Increases Charter Fund By 80% To USD 4.2mn

    ZATR issued 1,768.2mn shares at USD 0.002 of par value. The subscription was conducted on 1 February to 28 February. The funds will be spent to increase working capital, in line with a planned 48% increase in output in 2005. Earlier, the enterprise announced plans to spend USD 7-8mn in 2005-2007 to increase capacity

  • Kredmash: Sales Down 2.2% To USD 22.9mn, Net Income Up 189% to USD 0.2mn

    Kredmash produces asphalt and bitumen mixers, bitumen trucks and boilers for poured asphalt to be used on KamAZ, KrAZ and MAZ trucks. There are two packages of 31.2% and 12.6% consolidated by ?Kredmash Impex? and ?Information Systems? companies.

  • February Budget Revenues Meet Government Plans

    According to the Finance Ministry, budget revenues were 0.1% higher than planned in February, or ~USD1.84 bn. A 25.5% over-collection of corporate profit tax, compensated for personal income tax collection which was 5.7% below the targeted level.

  • Official Unemployment Rate Unchanged At 3.6% In February

    A total of 1.05 mn unemployed (or 3.6% of the working-age population) was registered with the State Employment Service as of March 1, 2005.

  • Ukrnafta?s Crude Jan-Feb Extraction Down 1.5% YoY To 481.0 Ths Mt

    In the first two months of 2005, Ukrnafta?s oil and condensate output was 72.2% of Ukraine?s total output, a 2.4% yoy decline. In February alone, extraction of oil and condensate in Ukraine declined 2.5% yoy to 317.7 ths mt, while Ukrnafta?s output was down 1.8% yoy to 229.5 ths mt.

  • Natural Gas Extraction Rises 1.7% YoY, To 3,345.8 Mn Cm In Jan?Feb

    For the same period, Ukrnafta decreased its gas output by 7.4% yoy to 514.2 mn cm. In February, Ukraine?s gas extraction was down 0.2% yoy to 1,580.3 mn cm. Ukrnafta?s gas extraction fell 9.7% yoy to 241.5 mn cm. Ukrnafta?s is Ukraine?s second largest gas extractor after Naftogaz? fully owned subsidiary, Ukrgazvydobuvannia.

  • Gas Ukrainy Resumes Supply To Kyivenergo (KIEN)

    Gas Ukrainy, Ukraine's largest gas supplier and a subsidiary of state company Naftogaz, has resumed gas deliveries to Kiev CHPP #5 and #6 leased by Kyivenergo. On 16 February, Kyivenergo shut down its first power unit of CHPP 6 because of gas supply limitations. Supplies were restructured due to Kyivenergo?s debt to Gas Ukrainy. Kievenergo plans to settle the debt by April. Concorde Capital: Kievenergo requested that debt payment be prolonged until April 2005, but Naftogas refused. A new head of Naftogas was appointed earlier this month and the supply conflict has been resolved. Now we will see if KIEN will be able to pay its debts by the end of the month.