The Ukrainian mining and metallurgy company “Metinvest” intends to acquire the pipe plant Tubular Products Iasi S.A., AMTP Iasi, located in the Romanian city of Iasi, which belongs to the ArcelorMittal corporation. The European Commission is reviewing the group’s application for asset concentration and has already preliminarily approved the future deal. The AMTP Iasi enterprise specializes in the production of small welded pipes made of carbon steel.
This is reported by Finway
Kyivstar Enters the Renewable Energy Market
The leading mobile operator “Kyivstar” is preparing for its first deal in the renewable energy sector. The company plans to acquire Sunvin 11, which is owned by the Cypriot Merestone Limited and operates a solar power plant in the Zhytomyr region with a capacity of 12.95 MW. Over the past year, Sunvin 11 generated revenue of 81.8 million hryvnias, and the value of the power plant is estimated at approximately 5 million US dollars.
Investment Strategy in Own Energy
The parent company of “Kyivstar” – the holding Veon – previously announced its intention to invest in the Ukrainian energy sector. Just last year, “Kyivstar” invested 10 million hryvnias in pilot solar power plants in the Odesa and Zhytomyr regions. Transitioning to own or contracted generation allows telecom operators to reduce the risks of blackouts and cut electricity costs. For “Kyivstar,” the new deal could be the first step towards a significant entry into the energy sector and further expansion of its activities in this field.
“Kyivstar” invested ₴10 million last year in pilot solar power plants in the Odesa and Zhytomyr regions.