Yushchenko government to put Kryvorizhstal back up for sale
Ukraine's new government decided to cancel the questionable privatization of the country's largest steel mill, Kryvorizhstal, which was sold to a group of local businessmen for $800 million while foreign bids nearly double the amount were rejected.
Prime minister of the recently elected Yushchenko government, Yulia Tymoshenko, explained that the steel mill would be renationalized and then put up for privatization once again.
Kryvorizhstal has an annual
production capacity of six million tons of rolled steel, seven million tons of steel and over 7.8 million tons of
pig iron.