Ukraine to enlarge companies in energy sector

Jan 24, 2003 01:00 AM

Ukrainian Deputy Prime Minister in charge of fuel and energy, Vitaliy Hayduk, has supported the Fuel and Energy Ministry's plan to enlarge companies in the energy sector. Hayduk said that the government is not going to reform the industry for the sake of fashion. Economic feasibility will be the foundation for structural changes.
Hayduk said that establishment of a unified company in the nuclear industry (unification of Enerhoatom, the state nuclear power company)with the enterprises participating in the formation of a nuclear fuel cycle) will be possible by the middle of the year, but the situation is not easy, and work has only begun.

Speaking on Enerhoatom's work, Hayduk said that it is necessary to bring the company's activities in line with its statute. "At the moment it is difficult even to audit the company so as to, for example, enter the loan market," he said. "When this is all beyond control, when there are a lot of papers inside the company, this is very difficult," Hayduk added.
Hayduk said that it is necessary to re-evaluate the nuclear fuel cycle programme and its integration with other countries, Russia and Kazakhstan in particular. Speaking about reforming state-controlled coal holding companies, Hayduk said that creation of a unified state-controlled joint-stock company to manage them is not a goal in itself. But he said that the Fuel and Energy Ministry is unable to cope with management functions, so "this whole structure should be prepared for the possibility and need to set up a managing company".

Hayduk said that orders on re-organization of practically all of the state-owned holding companies, except two enterprises in Luhansk Region, have been signed.
As reported earlier, the Fuel and Energy Ministry is going to set up unified companies in the nuclear industry (Atomenerhoprom), in hydroelectric power engineering (Ukrhidroenerho) and in the coal industry (Vuhillya Ukrayiny).

Source: BBC Monitoring Former Soviet Union
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