The Cabinet of Ministers proposes to transform “Eastern Mining and Processing Complex” into a joint-stock company: a draft law has been registered in the Rada

The Cabinet of Ministers of Ukraine has registered in the Verkhovna Rada the draft law No. 15122 “On Joint-Stock Company “Eastern Mining and Processing Plant””, which envisages the transformation of the state-owned enterprise into a joint-stock company.

As noted in the government’s explanations, the document defines the legal, economic and organizational principles of the transformation of “Eastern Mining and Processing Plant”. The main goal is to ensure the sustainable development of the enterprise, create conditions for attracting investments, as well as strengthen the economic and energy security of the state.

According to the representative of the Cabinet of Ministers in the Verkhovna Rada, Taras Melnychuk, the reform is also aimed at protecting state interests in a strategically important sector.

The draft law stipulates that the new joint-stock company will be 100% owned by the state. The founder will be the state represented by the central executive body responsible for the formation and implementation of policy in the fuel and energy complex.

The document also regulates the procedure for forming the authorized capital of the company and determines the features of its functioning after corporatization.

It is expected that the adoption of the law will be a step towards modernizing the management of the enterprise and increasing its investment attractiveness

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