Galnaftogaz Coming to the Capital

"OKKO" belongs to Open JSC “Galnaftogaz Concern”, a major West-Ukrainian oil trader. Construction of the FS resulted from cooperation of the concern with the European Bank for Reconstruction and Development.

“Galnaftogaz Concern” does not deny its intention to expand activities to one of the most lucrative oil product markets of the capital. The new “OKKO” filling compound will be launched in Chokoliv Boulevard, and by the end of this year one more FS compound will be put in operation in Kyiv. Within the project of construction of “OKKO” FS compound in Kyiv the EBRD is a financial partner. The concern cooperates with the EBRD to extend the network of its FS compounds. “We are pleased to start cooperation with the EBRD on our Kyiv project involving long-term credits. We believe it will not be the last one, - says Yuriy Kuchabskyy, General Director of Open JSC “Galnaftogaz” - 70% of the project is financed by the EBRD. We have serious intentions to develop the “OKKO” FS compound network, and we need reliable partners.”

Cooperation between the EBRD and “Galnaftogaz Concern” demonstrates that one more Ukrainian company won the credit of trust from a major Western investor. What strikes as pleasing is that it is from Western Ukraine, where economy is, still, developing at a slower pace in comparison with Eastern regions.

Besides, as we were informed by the Concern’s financial department, they are also working with a few banks within the ten largest banks of Ukraine and have involved long-term credits (three years and more) for construction of local “OKKO” FS Compounds. “We are prepared to cooperate with other banks which can offer long-term credits for FS compound construction, - says Vasyl Danylyak, the company’s financial director. – The example of the EBRD demonstrates the attractiveness of such cooperation to them.Because banks benefit from having a reliable creditor.”

In September the Concern put two filling station compounds in operation – in Ternopil and Lviv, while by the end of the year FS compounds will be launched in Kyiv, Uzhhorod, Stryy, Ternopil, Lviv, Vinnytsya.

Currently, Open JSC “Galnaftogaz Concern” is developing a Long-term Bond Issue project in order to involve more funds for the extension of the “OKKO” FS compound network in Ukraine. The marketing department of the Concern confirmed the information that by the end of this year the network of “Galnaftogaz Concern” will include 190 FS.