Friday,
18 August 2017
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New foreign investors bidding for ”Kryvorozhstal” and ready to pay even more than Mittal Steel?

The pretenders are foreign investors, who are ready to buy the plant “so that there be no monopoly not only in Ukraine, but also in the whole world”. The investors “are ready to pay more than the current owner of "Kryvorozhstal"”.

State Property Fund chief Valentyna Semeniuk has disclosed to journalists today about new pretenders to buy "Kryvorozhstal", who are ready to pay for the enterprise more than its current owner – Mittal Steel.

According to an UNIAN correspondent, she noted that the bidders are foreign investors, who are ready to buy the plant “so that there be no monopoly not only in Ukraine, but also in the whole world”, she said. The investors “are ready to pay more than the current owner of "Kryvorozhstal"”.

The State Property Fund chief refused to disclose the investors, referring to a commercial secret.

As reported earlier by UNIAN, the state property fund early this month said it might take Mittal Steel to court for failing to comply with the terms of the purchase contract. The decision followed an inquiry that highlighted a number of abuses. The new owner keeps refusing to adhere to a number of privatization terms, including those concerning the remuneration of employees.

      Mittal Steel Kryvy Rih is Ukraine’s biggest producer of steel products. Its share in the market is as big as 20 percent.

      The full production cycle combine is capable of manufacturing 6 million tons of rolled stock, about 7 million tons of steel and over 7.8 million tons of pig iron.

 

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