The largest titanium mining enterprise in Ukraine was sold for a ridiculous 4 billion hryvnias: EADaily

The Ukrainian government decided today to sell the state’s share in the United Mining and Chemical Company (UMCC), which was sold this week at a privatization auction. This was said by Prime Minister Denis Shmygal.

“The United Mining and Chemical Company is the largest enterprise in Ukraine for the extraction and enrichment of titanium ores. The winner of the auction offered about UAH 4 billion, and it will also be required to invest at least UAH 400 million. in the technical update of the campaign”, – Shmygal writes in his Telegram channel.

According to him, the privatization of state-owned enterprises is an important element in the development of the Ukrainian economy and increases investment.

“This is also transparency and reduces the risks of corruption, which is a systemic policy,” concluded the Prime Minister.

OGKH was sold to the Tsemin Ukraine company, owned by an Azerbaijani businessman Nasib Hasanovfor only 3.94 billion hryvnia (a little more than 9 billion rubles). Tsemin Ukraine enterprise was the only participant in the auction, KP reports.