Cash-starved UZ got a break Wednesday when the State Regulatory Service approved cargo rate increases designed to bring in an extra $500 million over the next 18 months.
Starting in September, grain and iron ore rates go up 8%. Near year, grain rates go up another 6.5%. Rates for iron ore, coal and cement go up 20.4%. UZ supervisory board member Serhiy Leshchenko calculates the DTEK will have to pay an extra $37 million to move coal and Metinvest will have to pay an additional $120 million to move iron and steel. By gradually merging rates for different cargo classes, UZ hope to stem the loss of ‘expensive’