The Cabinet of Ministers decided to sell the state’s stake in the United Mining and Chemical Company.
An auction was held in Ukraine for the privatization of the state-owned United Mining and Chemical Company, the country’s largest titanium ore mining plant. Prime Minister Denis Shmygal announced this at a meeting of the Cabinet of Ministers on Friday, October 11.
“This week an auction was also held for the privatization of the state-owned United Mining and Chemical Company. This is Ukraine’s largest enterprise for the extraction and enrichment of titanium ores,” the head of government said.
According to him, the winner of the auction offered a price of $4 billion. He will also need to invest at least 400 million hryvnias in the technical modernization of the business.
“Now the government is making a decision to sell the state’s stake in UMCC for this amount is the basis of systematic policy,” said Shmygal.
Let’s recall that on September 16-20, the State Property Fund of Ukraine held 16 privatization auctions, where it raised 2.574 billion Hryvnias.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.