CONSTRUCTION UKRAINE |
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CMO-Construction Machinery Overview is a source of information about construction equipment for the Ukrainian construction market. |
We would like to serve also English reading audience that could be interested to know more about the Ukrainian construction market. Please find brief news translated form Ukrainian. |
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Construction Ukraine - News |
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Construction Ukraine - February 2006 |
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Saksaganskiy St, Kiev - Bid Solicitation. |
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Kievavtodor advertised a bid. Road reconstruction works include deep reclamation and road and sidewalks' paving. Project duration is March - December 2006. Work schedule shall be aligned with traffic changes and temporary road closures. Saksaganskiy St was originally built in 19th century.
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02/22/2006 |
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Perova Blv and Osvoboditeley Av, Kiev - Bid Solicitation. |
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Kievavtodor advertised a bid. Road reconstruction works include road repair and bridges re-decking. Project duration is March - December 2006. Reconstruction project was prepared by Kievproject.
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02/22/2006 |
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Construction Scam - $75M Stolen. |
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Apartments owners that bought their property from Kiev based Elite Center Group discovered that some apartments were sold twice. Elite Center explained that it was a computer malfunction. Nevertheless, alarmed owners formed committee and hired a lower. The committee discovered that all apartments in the building located on 34-42 Otto Schmidt St. were sold at least twice and some of them three times. Apartments were also sold in buildings on Heroes of Stalingrad St., Kurtanovskogo St., Laboratornaya St, and Stroiteley St. In fact construction didn’t start on any of these sites. The only project in progress was the oversold building on 34-42 Otto Schmidt St. On Monday February 6 all offices of Elite Center were closed. It was discovered that the top management of the Group disappear in January 30th leaving bank account empty. In total at least $75M were stolen.1.5 thousand of the fraud’s victims includes high rank officers of Ministry of Internal Affairs, and an advisor of the President of Ukraine. Criminal Charges against management of Elite Center Group were filed. Ministry of Internal Affairs started investigation of the massive fraud. Mayor of Kiev Mr. Omelchenko talked to media. He remained about frauds of midd-90s and blamed “better times” that made victims too naive. He also mentioned that it’s not wise to buy an apartment 20% chipper than the one from others without questioning the reason. Chief of Police Mr. Yarema made a statement for media about construction scam investigation. In his speech he mentioned that it’s unfortunate that current rules allow people pay cash for apartment. He told that Elite-Center encouraged people to pay cash, and many buyers did so. In his opinion it would we very difficult to get victims money back. Elite Center was a group of companies that included R&D Center Progress, Construction -Engineering Company BIK, Financial-Construction Company Elite Center and others. Elite Center Group has been using brand and logo of Financial-Construction Company Elite Center. CEO of Financial -Construction Company Elite Center Mr. Tziganok made a statement that his company is just a victim of the fraud that lost 20% share of the building located on 34-42 Otto Schmidt St. Mr. Tziganok suggested continuing construction of started building(s) under condition that fraud victims would agree to pay extra $250 per sqm to match realistic market price. He also stated that of Elite Center Group has been using his brand “illegally”, but he couldn’t do anything because the trademark was not registered. Workers of general contractor (building on 34-42 Otto Schmidt St.) Construction -Engineering Company BIK haven’t been paid since December. CEO of the company is facing criminal charges and eventually disappeared. Construction of the building on 34-42 Otto Schmidt St. is on hold. It is expected that this massive construction scam could cause some damage to the situation on the Ukrainian construction market. New and small companies could lose a lot of businesses to big well-known companies, because of buyers’ fear of fraud. Minister of construction Mr. Katchur on another press-conference told that the rules of construction financing shall be changed. The financing shall not be available to companies that don’t have the construction permit or don’t start construction. Some construction companies are optimistic expecting that close attention to construction market triggered by this scandal will improve buyers’ confidence.
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02/10/2006 |
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Kyivmetrostroy Asks for Extra 100M |
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On Saturday January 28th 500t retaining wall collapsed on construction site of Dimeevskaya subway (metro) station. Gantry crane and 50t latticed boom crawler crane collapsed in to the excavation. Luckily no one was injured. City's busiest freeways was closed creating traffic. Cause of the accident is not determined. Mayor of Kiev made a comment that the accident must be a result of the engineering mistake. Frost effects should be taken in consideration not just in 1.2 m of the top soil on surface but behind the retain wall too, as extensively exposed to the cold weather. End of January was extremely cold in Ukraine. (Our team would agree with the comment). All subway (metro) construction works in Kiev are carried out by Kyivmetrostroy Incorporation. As we wrote before, used tunnel boring machine Wirth TB-628 was purchased by Kyivmetrostroy for construction of 4km subway (metro) line (the firs station of the new line is Dimeevskaya). 3.58M EURO machine built only 19.2m of the tunnel from July to November last year. It was broken in November, and is not operational till now. Formally Kyivmetrostroy doesn’t own the machine till 100m of the tunnel would be built. Now Kyivmetrostroy asks Kiev City Administration for extra 100M UHA in total to finish construction of the new line in 2008, as it was originally planned. Previously budget of the new line was 20M UHA plus 18.4M UHA for project development and engineering services. In December 23, 2005 Kyivmetrostroy’s top management gave press-conference that was called “War against Kyivmetrostroy”. The conference followed company’s audit conducted by law enforcing bodies. Audit was initiated by request of MP Mr. Stretovich. Mr. Stretovich had reasons to believe that during construction of Siretzko - Petcherskaya subway line in 2003-2004 Kyivmetrostroy manipulated construction cost getting 75M UHA overpaid. On the press-conference CEO of Kyivmetrostroy Mr. Petrenko announced that result of audit were in the Company favor. Mr. Petrenko accused an ex-shareholder - Company Planet Bud in attempt to destroy Kyivmetrostroy. Planet Bud bought 25% of Kievmetrostroy’s share in May 2002. Over time share of Planet Bud has been changing. In December 2005 Planet Bud sold its 16.95% of share to Swedish investor. Earlier Planet Bud sold 17.5% of Kievmetrostroy’s share to “North-Eastern Construction Company”. Planet Bud was one of contractors involved in new Kiev railway bridge construction project. Under supervision of Minister of Transportation $200M of $400M credit provided by Deutsche Bank for the bridge construction were stolen. In December 2004 Minister of Transportation Mr. Kyrpa was found in his cottage shoot in a head (in accordance with an official theory he has committed suicide). Construction of the bridge restated now.
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02/08/2006 |
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Reconstruction of Hotel Opera Comes to the End. |
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Optima Capital finalized financing of four stars hotel reconstruction in City of Lvov (Western Ukraine). Investment in hotel reconstruction is a part of mutual fund “Professional” portfolio – one of financial products of Optima Capital. The fund invested $4M in this project. Renovated hotel “Opera” is located in historical center of Lvov next to the Opera House. Hotel has 51 rooms, 5 of which are luxury. Total area of hotel is 2,700sqm. There is a fully equipped conference hall. One of two restaurants is located on the last floor. There is a scenic view from its windows on the part of historical Lvov, Opera House and Svoboda Blv. The monumental building of the Lvov’s Opera House belongs to the most beautiful theatrical buildings of Ukraine. It was built in the so-called "Viennese pseudo-renaissance" which unites the details of different architectural styles was compiled by the famous Viennese architect Zigmund Gorgolevsky. Reconstruction of the hotel started many years ago. In October 2001, when hotel was 88% ready, construction works were terminated because of the murder of Construction Company’s owner. Owner of Technobud that handled reconstruction of the hotel Mr. Opirsky was shoot dead in his car. It was thought, the fact that Technobud won bid for Lvov’s central railway station reconstruction triggered the murder. It’s still a cold case. Hotel was bought by Optima Capital in summer 2005 after years of conservation. Now reconstruction works are at the final stage. In May Lvov will celebrate its 750 years anniversary. It is expected a lot of tourists visiting Lvov this summer.
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02/08/2006 |
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34-42 Otto Schmidt St.
Lvov Opera House
