The regional authorities of the Dnipropetrovsk region are preparing the Volnogorsk Mining and Metallurgical Plant for privatization: it will be headed by a person controlled by oligarch Akhmetov

The regional authorities of the Dnipropetrovsk region have prepared conditions for the privatization of the state enterprise Volnogorsk Mining and Metallurgical Plant, which develops Ukraine’s largest deposit of zircon sand used for titanium production.

This information was obtained by Ukrainian Reality journalists from their own sources.

On July 18, the State Property Fund of Ukraine held a meeting of the auction commission in Kyiv, where the starting price for the privatization of the Volnogorsk Mining and Metallurgical Plant was set at 3.9 billion UAH (87.11 million euros).

The new owner will be required to maintain the main types of activities of the enterprise and invest at least 400 million UAH (8.93 million euros) in technical re-equipment and modernization.

It is forecasted that the Volnogorsk Mining and Metallurgical Plant will be headed by a person controlled by the oligarch Rinat Akhmetov, who intends to purchase the attractive enterprise in exchange for the lost assets in the Donetsk region.