: :inin Kyiv (EET)

Coal Ministry plans privatization and liquidation of state mines

Ukrainian Energy and Coal Industry Minister Ihor Nasalyk says his ministry intends to carry out privatization and liquidation of a number of state-owned mines.
”Eleven mines will be liquidated, and we plan to bring back the profitability at 15 mines to proceed with the privatization,” the minister said during a presentation of the ministry`s draft action plan at an energy congress in Kyiv.
At this, he noted that seven promising mines would remain in state ownership.
As UNIAN reported earlier, the minister estimated that it would take from six to ten months to reach a breakeven level of operations of the state mines.
On March 31, the Verkhovna Rada of Ukraine adopted in general a bill envisaging that UAH 350 million of budget funds allocated for the Coal Ministry will be channeled to support state-owned coal enterprises.
On May 12, 2016 Nasalyk stated that Turkey was interested in the privatization of Ukrainian mines and ready to invest in the development of the Ukrainian coal sector.
On May 13, the Coal Ministry urged the Ukrainian parliament to amend the state budget for 2016 and earmark necessary funds to carry out the restructuring program of Ukraine`s coal sector. It is reported that the program envisages, among other things, the shutting down of unprofitable mines, the payment of salaries to miners and adaptation of workers that will be dismissed in connection with the liquidation of some mines.


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