SCM has invested $4 bln in Ukraine's recovery since Russia's full-scale invasion
Since the beginning of Russia’s full-scale invasion, companies owned by businessman Rinat Akhmetov under the SCM umbrella have invested approximately $4 billion (over UAH 150.5 billion at the weighted average exchange rate) the restoration of infrastructure destroyed by the enemy, as well as in the construction of new facilities, and modernization of production assets, SCM reported on its website Friday.
Of that amount, nearly $1 billion was directed specifically to the urgent restoration of infrastructure facilities destroyed as a result of Russian shelling and massive air attacks.
First and foremost, this includes the restoration of the Ukrainian energy infrastructure – thermal power plants and electricity grids, which are the primary targets of the enemy. This made it possible to bring part of the capacity of power plants and other critically important energy facilities back into operation, reduce the duration of electricity outages for consumers, and stabilize the situation in the energy system, the statement said.
SCM’s investments cover both reconstruction of damaged facilities and the modernization of existing capacities, as well as the construction of new infrastructure to replace what has been destroyed by Russia. In particular, this includes a new wind power plant in southern Ukraine and the country’s largest electricity storage system, which help balance the energy system amid constant attacks on infrastructure.
According to the release, the SCM’s enterprises are also actively investing in the restoration of transport and civilian infrastructure in the cities where they operate.
Businessman Rinat Akhmetov, quoted in the statement, emphasized that despite the barbaric and deliberate destruction of infrastructure by the enemy, aimed at depriving the country, its economy, and its people of the conditions necessary for work and life, Ukraine stands strong, thanks to the Ukrainian army and the Ukrainian people.
As reported, SCM businesses, the Rinat Akhmetov Foundation, the Heart of Azovstal initiative, and football club Shakhtar marked the fourth anniversary of Russia’s full-scale aggression by announcing more than UAH 13.5 billion ($368 million) in aid for the country, the army, and civilians. After the first year of the war, they reported UAH 5 billion in assistance; after two years, UAH 7.6 billion; and after three years, UAH 11.3 billion.
System Capital Management (SCM) is an international investment company. Its portfolio includes mining and metallurgy (Metinvest), energy (DTEK), natural resources, banking (FUIB), telecommunications (Ukrtelecom), retail (TSUM, Kyiv), agriculture (HarvEast), as well as transport and logistics (Lemtrans).
Currently, SCM enterprises and holdings operate in Ukraine, Cyprus, the Netherlands, Italy, Bulgaria, Switzerland, the United Kingdom, and the United States.
