Minister: Ukraine could privatize state-owned mines because of their debts

Minister: Ukraine could privatize state-owned mines because of their debts


KIEV, February 9. Ukraine is unable to start the privatization process of state coal mines because of their debts. This was stated by Minister of energy and coal industry Volodymyr demchyshyn.

See also

Yatsenyuk: Ukrainian government will continue reforms in the country

“We tried to privatize (state mines). It (privatization) is not, since mine are debts that decrease has not yet been possible,” said Demchyshyn.

In addition to debt, according to him, privatization of the mines is complicated by their “complex Geology”. “Plus the total (negative in Ukraine) investment climate, military action is not an opportunity to talk about privatization at the moment,” added the Minister, assuring that “we continue this process (of privatization)”.

As explained Demchyshyn, deciding the fate of state-owned mines in Ukraine, the Ministry, in addition to privatisation, put the question of their modernization. “On technical re-equipment, on safety in mines, 3 billion hryvnia (more than 110 million dollars),” – said Demchyshyn. However, according to him, the government was instructed “to revise those figures”.