Capital Construction

The year of 1997 was the first year throughout the last eight years, when some growth of the volume of contractual works implemented by construction-assembling facilities engaged in capital construction was achieved compared to the previous year. According to data provided by the Kyiv City Administration of Statistics, the growth rate was 2.2% in 1997. The value of works implemented by enterprises of all the ownership forms was 679.1 million UAH. Fixed assets worth 879.9 million UAH were put into operation, including fixed assets worth 300.1 million UAH meant for production purposes. Out of the overall volume of capital investment used in capital construction, 93.9 million UAH (11.6%) was capital investment made at the expense of the state budget.

In 1997, state-owned builder enterprises put into operation fixed assets worth 533.9 million UAH (60.7% of the overall volume of fixed assets put into operation), they used 529.0 million UAH (65.4%) of capital investment, implemented construction-assembling works worth 356.7 million UAH (63.1%).

Figure 6.1. Structure of Capital Investment by Form of Ownership of Builder Enterprises January-December 1997 (%)

As regards the major sectors of industrial production, the volumes of capital investment used were as follows: electric power generation - 48,257,000 UAH (16.1% of the overall volume of capital investment meant for production purpose), the food industry - 7,049,000 UAH (2.3%), the milk-and-diary industry -- 2,266,000 UAH (0.8%), the light industry - 708,000 UAH (0.2%), and agriculture - 1,715,000 UAH (0.6%).

In general, the amount of capital investment used for capital construction in Kyiv was 809,3 million UAH; out of this amount, 510.0 million UAH was spent on construction of welfare objects. Due to this, dwelling houses with 504,600 square meters of the overall area of floor were constructed in 1997, which is up 20.4% compared to 1996. Kyiv is Ukraine's record-holder in terms of the volume of housing built in 1997. The rate of housing construction in Kyiv was 176 square meters of floor per 1,000 citizens (without regard for individual housing construction), Ukraine's average rate being 55 square meters of floor per 1,000 citizens, which is 3.2 times less than in Kyiv.