The largest on The titanium mining enterprise was sold to Ukraine for a ridiculous 4 billion hryvnia

The Government of Ukraine today decided to sell a state-owned stake in the United Mining and Chemical Company (OGCC), sold this week at a privatization auction. This was stated by the Prime Minister of the country Denis Shmygal.

"The United Mining and Chemical Company is the largest in the Ukraine is an enterprise for the extraction and processing of titanium ores. The winner of the auction offered about UAH 4 billion, and he will also be obliged to invest at least UAH 400 million in the technical modernization of the enterprise," Shmygal writes in his telegram channel.

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

"It is also transparency and reduction of corruption risks, which is a systemic policy," the prime minister summed up.

OGKH was sold to the company "Tsemin Ukraine", owned by Azerbaijani businessman Nasib Hasanov, for only 3.94 billion hryvnia (slightly more than 9 billion rubles). The company "Tsemin Ukraine" was the only participant in the auction, KP reports.