Daily monitor

The National Electricity Regulation Commission (NERC) has decreased regulated electricity tariffs for teh state-owned nuclear power company Energoatom and the national hydro energy generating company Ukrgidroenergo for the second half of November. Energoatom will earn 9.41% less (UAH 12.9 per MW). Ukrgidroenergo’s regulated tariff was lowered 82.83% to UAH 009.1 per MW.

The State Statistics Committee of Ukraine (Goskomstat) revealed that, in October 2008, the production of slate cement increased 2.2% to reach 63.8 mln tiles, compared with output in October 2007. For the purposes of this calculation, slate includes corrugated plates, slate and other asbestos cement products.

In October 2008, Ukraine’s cement production fell by 10.1% to 1.291 mln metric tons, compared with October 2007. This information was released yesterday by the State Statistics Committee of Ukraine, with additional news issued about the growth of the country’s slate production (see related news in today’s edition of the Sokrat daily). Production of cement fell by 9.6% in the month of October, in comparison to the levels achieved in September. In the period January-October, cement production rose by 5.2% to reach an output of 13.495 mln metric tons, relative to the same ten-month period in 2007.

The preliminary results for January-October 2008 for the OJSC Kramatorsk ‘Pushka’ Cement Plant [KRCS UZ, U/R], a member of the ‘Eurocement Group Ukraine’ and affiliate of the Eurocement Group Holding, have been released. The company produced 369.1 thsd metric tons of clinker, which amounts to 107% of the company’s target of 344.8 thsd metric tons. Due to the current situation on the construction market, cement production for the same period in 2007 was 490.4 thsd metric tons, which was 90% of its 551 thsd target.

The European Investment Bank (EIB) is to provide a loan of EUR 175 mln to Ukrzaliznytsia, the state rail transport administration. This credit will be allocated for the replacement of railway rolling-stock. Prime Minister Yulia Tymoshenko made this announcement at Wednesday’s Cabinet of Ministers` meeting.

Daniel Valk, the CEO of Dniprospetsstal [DNSS UZ, U/R], revealed that the company plans to produce 15 thsd mt of rolled products in November. This volume will be 39% down MoM (24.5 thsd mt in October) and 48% below the 10M08 average of 29.0 thsd mt per month.

In the first ten months of 2008, electricity output in the unified energy system (OES) of Ukraine grew by 1.1% YoY to 160.134 bln kWh, according to data released by Ukraine's Fuel and Energy Ministry.

It was previously announced that a 68% stake in ProminvestBank, the sixth-largest bank in Ukraine by assets, was sold to a strategic investor.

On November 10, Concern Galnaftogaz [GLNG UZ, Speculative BUY] disclosed its selected consolidated UAS 1H08 results.

Kryukiv Railcar [KVBZ UZ, BUY] has completed the construction of its assembly and welding shop within its railcar-building complex in Kremenchug, Poltava Region.