17:26 30.03.2021

UMG Investments ready to invest over $40 mln in new projects annually

3 min read
UMG Investments ready to invest over $40 mln in new projects annually

Investment company UMG Investments, owned by SCM Group of businessman Rinat Akhmetov, confirms strategic plans for further investment in Ukraine, estimating its investment volume at over $40 million annually.

"We have sufficient liquidity, and we are ready to invest more than $40 million in new projects annually," the company's press release said, citing its CEO Andriy Horokhov.

UMG Investments said that it has portfolio companies in three areas: mining – Vesco Group and Novotroitske Ore Mining, management of by-products and production wastes – Recycling Solutions, and industrial goods and services – Intech.

Horokhov said that significant progress was recorded in each of the portfolios in 2020. In particular, clay mining assets were expanded through the acquisition of shares of Chasiv Yar Refractory Plant. In the processing portfolio, a new enterprise was launched – Ukrainian Mineral Fertilizers – and an agreement was reached on the start of new construction. Port logistics has been added to the logistics division of the industrial goods and services portfolio: Portinvest, which has been operating in this area since 2010, has come under the management of Intech, the press release said.

"In 2021, we have plans to expand these areas and new investment opportunities," the press release said.

UMG Investments clarified that Vesco Group of enterprises, consisting of JSC Vesco, Druzhkivka Ore Mining, PrJSC Ogneupornerud and Chasiv Yar Refractory Plant, sold 2.4 million tonnes of clay in 2020, about 84% of which was sold on export markets to 18 countries of the world (26% to manufacturers of ceramic tiles from Spain). The company received UAH 3.6 billion.

Novotroitske Ore Mining, one of the largest limestone producers in Ukraine, shipped 4.1 million tonnes of products in 2020 and received UAH 1.044 billion in revenue.

Recycling Solutions, which is an integrated operator for the management of secondary resources for the coal, coke and chemical, metallurgical and thermal power industries of Ukraine, sold in 2020 over 2.3 million tonnes and 1.45 million cubic meters of manmade waste and by-products of domestic industrial enterprises to 24 countries of the world. The company received UAH 1.1 billion in income and invested UAH 53 million in the creation of new processing enterprises. Among the achievements of the last year, according to the press release, is the opening of a new plant for processing by-products of the coke and chemical industry in Kryvy Rih.

Intech, including the assets under its management, received income of UAH 2.61 billion in 2020 by investing UAH 77.4 million in the renovation and expansion of production facilities. According to the press release, the volume of supplies of products for metallurgy increased by 79%, to 78,100 tonnes, and the logistics division transported 22% more cargo, over 3.3 million tonnes of cargo.

The press release specifies that the expenditures of the investment company and portfolio assets to counter the pandemic amounted to about UAH 9 million in 2020.

UMG Investments creates and develops businesses with high growth potential.

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