REUTERS
At least 500 small-scale privatization facilities are planned to be sold.
The Memorandum of Economic and Financial Policies under the International Monetary Fund's new program for Ukraine provides for the sale of the state-owned power generating company Centrenergo, Chervonolymanska Coal Mine, PrJSC Indar, and Kyiv-based President Hotel in the first half of 2019.
Read alsoUkraine's Cabinet comments on cancellation of tender to sell state stake in Centrenergo
In addition, it is planned to sell at least 500 small-scale privatization facilities, reduce the list of enterprises banned for sale, as well as adopt a new law on concessions and launch concession pilot projects in the first half of 2019. These goals are stipulated in the Memorandum available to UNIAN.
As UNIAN reported earlier, the IMF Executive Board approved a new 14-month Stand-By Arrangement for Ukraine worth $3.9 billion with the immediate allocation of the first $1.4 billion tranche.
Centrenergo was included in large-scale privatization facilities for this year, and it was to be the first to start that process, but its tender did not take place.
The company's net profit in 2017 grew by five times from 2016, to UAH 1.9 billion ($68.5 million). However, Centrenergo in January-September 2018, reduced its net profit by almost 76.8% year-over-year, from UAH 2.09 billion ($75.4 million) to UAH 489.51 million ($17.7 million).
UNIAN memo. PJSC Centrenergo is one of Ukraine's leading electricity generating companies. The state owns 78.289% of the company's shares. Centrenergo consists of three thermal power plants – Vuhlehirska, Zmiivska, and Trypilska. Their combined installed capacity is 7.665 GW, which is 14% of Ukraine's overall power generation capacity. Centrenergo supplies electricity to Kyiv, Kharkiv, and Donetsk regions.