Daily monitor

Metal Bulletin reports that the Metinvest Group plans to launch a brand new Mill 390 at Makiivka ISW. According to Andrey Parkhomchuk, the sales director of Metinvest’s steel and rolled products division, after the launch of the 500-600 tpa (42-50 mt per month) mill, the Metinvest Group as a whole will decrease its sales of semi-finished products to only 50 mt per month.

Kirovogradoblenergo [KION UZ: BUY] allocated 95% of its 2008 net income on dividend payout. 5% of the net income was directed to the reserve fund. Respective decisions were approved during the company’s AGM last Friday.

According to IKS-Consulting monthly statistics, number of Ukrtelecom [UTEL UZ, U/R] mobile users increased by 9% MoM to 238.62 thsd clients in March 2008. In the same based on 1Q2009 users pool increased by 47%. Overall number of mobile users decreased by meager 0.36% to 55.48 mln. customers. Level penetration decreased by 0.5% to 120.2%.

According to the National Bank of Ukraine banks’ incomes reached UAH 37.7 bln (68.1% growth YoY), while expenses of the banks grew to UAH 44.7 bln (120% growth YoY). The main driver of such increase in expenses was provision expenses equaled UAH 17.3 bln. Net interest income and net fee & commission income equaled UAH 14.5 bln and UAH 3.3 bln respectively.

Ukraine’s state railroad transport administration, Ukrzaliznytsia, announced it will be holding a tender for the purchase of 1,000 freight cars, which are intended for use on the Donetsk Railway.

Sumy Frunze Machine Building [SMASH UZ, N/R] – one of largest European producers of equipment for the oil, gas, and chemical industries – has secured a deal with the Russian gas monopoly ‘Gazprom’, whereby it will supply six turbo freezer aggregates.

According to Yaroslav Kolesnik, the Chairman of the Board for Forum Bank [FORM UZ, U/R], the bank intends to increase its statutory capital by UAH 0.5-1.1 bln in the current year, as well as attracting a subordinated loan from EBRD for up to USD 100 mln.

According to Acting Finance Minister Ihor Umanskiy, the seven banks to be recapitalized by the Ukrainian Government are: Ukrprombank, Nadra Bank, Imex Bank, Ukrgazbank, Finance and Credit Bank, Rodovid Bank, and Kyiv Bank.

The Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, U/R], is making progress with the construction of Blast Furnace No. 3, according to a Metinvest Holding press release.

According to Metal-Courier, on April 14, Zaporozhkoks [ZACO UZ, N/R] shut down coke battery No. 1. The design capacity of CB No. 1 was 910 thsd tpa, actual productive capacity was 545 thsd tpa. Zaporozhkoks plans to eventually erect a brand new CB No. 1-bis with 860 thsd tpa capacity.