Electric locomotive works to be privatised

UKRAINE: The State Property Fund of Ukraine has begun preparations to privatise the Dnipropetrovsk Electric Locomotive Plant in the city of Dnipro (formerly Dnipropetrovsk). The plant is to be sold in an auction, but the starting price and date have not been announced.

The plant is equipped to produce main line, industrial and mining electric locomotives and components, although in recent years its main focus has been on repair and maintenance and the production of spare parts. The plant had outstanding wage arrears of more than 7m hryvnia as of September 1.

The winning bidder would be required to invest in modernising the plant and re-equipping the workshops.