The state has no plans to privatize "Turboatom" as yet - Deputy Prime Minister

The state has no plans to privatize "Turboatom" as yet - Deputy Prime Minister

“There is no information on anyone being interested in privatization of Kharkov’s Turboatom,” said on February 6 Yuriy Boyko, Deputy Prime Minister, during a visit to the company. “The plant is listed in the privatization plan, but there is no talk about any particular timing, the assessment procedure hasn’t even started yet. Given the company’s level of profitability, we are convinced that the plant will be priced at a considerable sum,” said Boyko.

Deputy Prime Minister sees no reason to sell the plant that provides jobs for 6,000 people. “The plant employees get almost 6,900 UAH salary, the company has been profitable, which allows investing own money in upgrading, so we will not rush to sell this facility,” said Boyko.

Turboatom’s 2013 profits reached 1.924 billion UAH, the forecast for 2014 is 2.350 billion UAH. In 2013 the company paid to the budget 334 million UAH; it employs 5,732 people and invested UAH 80 million in upgrading projects. The plant produces turbines for thermal, hydro and nuclear power stations. The state owns 75% stake in the plant.


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