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The State Property Fund of Ukraine is planning to privatize big monopolies
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14 April 2010
Ukraine is going to provide a big privatization in 2010. On the April 13 Ukrainian President Viktor Yanukovych predicts his country will make at least UAH 10 billion in privatization proceeds. Ukraine has a full range of "promising" properties that could be privatized as early as this year, he said.
"We're talking about Ukrtelecom, Luhanskteplovoz (Luhansk diesel locomotive) plant, and thermal-power enterprises, Yanukovych said.
Ukrtelecom, the largest telecommunications company in Ukraine, ended 2009 at losses of UAH 456.426 million with net income being up by 3.39% or UAH 225.202 million to UAH 6,870.931 million, compared with 2008.
Ukrtelecom has a 78.5% share of the fixed-line telephone market in Ukraine and provides services to 9.9 million subscribers.
Previously was announced that the starting price of Ukrtelecom will make nearly UAH 7 billion. However, privatization will be conducted after the Cabinet of Ministers approves the appropriate decision.
Most probably that about 25% of the shares in Ukrtelecom would remain in the state property.
Luhanskteplovoz is a lucrative state-owned locomotive maker. The starting price of UAH 400 million for a 76 percent stake was announced.
New approaches to privatization will be applied and the procedure will be "absolutely transparent," Yanukovych said.
Ukraine is interested in infrastructural investment projects, the president told the U.S. businessmen, particularly in developing transportation infrastructure, and in the context of massive power-supply reformation.
"For its part, Ukraine is ready to invest free funds in power-supply projects, the development of transport, and infrastructure," Yanukovych said. He also announced plans for the near-future creation of a state investment agency for attracting investments to his country.
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