Cabinet Approves Privatization Targets
1 July 2008
Prime Minister Yulia Tymoshenko announced that the Cabinet of Ministers is completing the list of companies subject to immediate privatization. The first tender on Kryvorizhstal(KRST: BUY) will be held October 24, and the winner will be announced the same day. Tymoshenko also mentioned several other companies that will be privatized:
- Kryvorizhstal (KRST)
- Kryviy Rih IronOre ?Okyslennkih Rud?
- Odesa Portside Plant, a major ammonia producer
- Nikopol Southern Pipe Works
- Azot Severodonetsk, a major chemical plant
Concorde Capital: The government is likely to go forward with privatization, as it had said it needs USD 1.3 bln in the 2005 budget for revenues from privatization. However, actual 5M05 proceeds were only USD 120 mln. There is a significant interest in companies like Kryvorizhstal from major international and Russian strategic players, including Mittal Steel, Arcelor, and Severstal
