Government decides to sell state-owned stake in UMCC
Kyiv • UNN
The Cabinet of Ministers has decided to sell the state-owned stake in the United Mining and Chemical Company. The winner of the auction offered about UAH 4 billion and pledged to invest at least UAH 400 million in the modernization of the company.
The Cabinet of Ministers of Ukraine has decided to sell the state-owned stake in the United Mining and Chemical Company, which was sold at a privatization auction this week. This was stated by Prime Minister Denys Shmyhal, reports UNN.
“The government has today decided to sell the state-owned stake in UMCC, which was sold at a privatization auction this week. The United Mining and Chemical Company is Ukraine's largest titanium ore mining and processing enterprise. The winner of the auction offered about UAH 4 billion. It will also be obliged to invest at least UAH 400 million in the technical modernization of the enterprise,” Shmyhal wrote.
He noted that the privatization of state-owned enterprises is an important element of our economic development and investment growth. It also means transparency and reduction of corruption risks, which is a systemic policy.