Media outlook in July 2005 | |||
It is all just beginning
From 18 through 20 July, 2005 the State Property Fund of Ukraine carried out the final inspection of fulfillment of the conditions of the agreement for sales of 67.41% shares of the Open Joint Stock Company "Lisichansknefteorgsintez". After this the State Property Fund of Ukraine and the Closed Joint Stock Company TNK Ukraine Invest signed the act of the final inspection. Thus, the fulfillment of all privatization obligations by the company has been confirmed. “The inspection which was carried out on July 18-20 showed that the company had fulfilled all paragraphs of the agreement. The investor has fulfilled all undertaken obligations diligently, qualitatively, timely and to the full extent. It is would be desirable that this should serve as an example for other companies operating at the Ukrainian market", — said the Deputy Head of the State Property Fund of Ukraine Alexander Potimkov. "Purchasing of the shares of LINOS is only a small part of investments from TNK, —stated the President of TNK-BP Ukraine Alexander Gorodetsky. And the total amount of our investments exceeded $115 mln, not including the investments in production and sales". Of these investments TNK-ĀŠinvested in five years over $100 mln in reconstruction of the oil refinery (including over $10 mln in measures on labour protection and ecological projects). According to Alexander Gorodetsky by the end of 2005 this amount will reach $120 mln.
Source: Energobusiness