The sale of the major enterprise suffers another setback after the state regulator says one of two bidders gets suspended over botched tender documents.
In a statement issued Monday, the regulator said ‘the auction has to be postponed as one of the bidding applications is not in compliance with bidding procedure’.
The auction is part of a bigger privatization effort of Zelensky’s government that sees allegedly ineffective state run enterprises going under the hammer.
‘United Mining and Chemical Company’ deals with the extraction of titanium and zirconium, and production of rutile, ilmenite and zircon concentrates, as well as the provision of concentrate enrichment services. The company’s branches are engaged in the extraction and enrichment of titanium ores in Ukraine and are among the world’s largest producers.