The Ukrainian government has started preparations for the privatization of the country's unfinished Soviet-era Krivoy Rog Mining and Processing Works of Oxidized Ore (KGOKOR).
The Ukrainian Prime Minister Yulia Tymoshenko has ordered the country's Ministry of Industrial Policy to prepare all necessary documents on the issue.
Prime Minister Tymoshenko issued the instruction following her meeting with Lakshmi Mittal, owner of the world's largest steel mill ArcelorMittal, during which the KGOKOR privatization was discussed.
So far, there are two candidates for the completion of the KGOKOR facility - ArcelorMittal, and a consortium including Russian managing company Smart-Holding and Russian iron ore and steel producing company Metalloinvest.