The Verkhovna Rada of Ukraine has approved, at first reading, a draft law on the corporatisation of the state-owned enterprise ‘SkhidGZK’. The bill provides for the establishment of a joint-stock company wholly owned by the state as the first stage in the enterprise’s subsequent integration into JSC ‘NAEK ‘Energoatom’. The draft law guarantees the legal succession of the new company and the retention of existing licences and permits, whilst also establishing temporary mechanisms to protect the enterprise from bankruptcy and the forced seizure of its assets.
The reform is expected to contribute to improving the efficiency of the management of this strategic enterprise and to strengthening Ukraine’s energy security.