Photo from UNIAN
Ukraine's government has recently excluded the enterprise from the list of large-scale facilities that are subject to privatization in 2019.
Deputy Head of Ukraine's State Property Fund (SPF) Vitaliy Herz says the Fund is to revoke the decision to privatize a state-owned stake in Kharkiv-based JSC Turboatom and will terminate the facility's sale.
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"Under the law, within 30 days from the date of the decision, the assets shall be returned to the administrator," he said at a meeting of the Ukrainian parliament's Special Control Commission on privatization issues on February 28, adding this refers to the Economic Development and Trade Ministry.
According to the official, the reason for such a move was the Cabinet's recent decision to approve the list of large-scale privatization facilities for 2019, which excluded the company from the assets to be sold.
Herz says the SPF has already decided to terminate the privatization procedure for Zaporizhia Titanium & Magnesium Combine, which the Cabinet of Ministers also excluded from the list of large-scale privatization facilities.
As UNIAN reported earlier, on January 16, the Cabinet of Ministers approved the list of large-scale privatization facilities that are subject to sale in 2019, having excluded Turboatom and Zaporizhia Titanium & Magnesium Combine.
UNIAN memo. Turboatom manufactures steam turbines for thermal power plants (TPP) and nuclear power plants (NPP), as well as hydro turbines for hydro power plants (HPP) and gas turbines for TPP. Turbine production is based on a closed cycle method: from engineering design and research to manufacturing, assembly, testing and shipping.
Kharkiv's enterprise includes two special design bureaus, technological divisions, research laboratories, procurement base, mechanical processing production, as well as facility for testing of power equipment. The State Property Fund of Ukraine owns a 75.22% stake in JSC Turboatom.