Ukrzaliznytsia, the Ukraine’s national railway company was formally registered as a state-owned joint stock company on Ocrober 21, 2015.
With a UAH 230 billion (EUR 9.1 billion) authorised capital, the company replaces its previous status as an integral part of the Ministry of Transport, and is intended to give the organisation a more commercial outlook.
The first board meeting following the change approved plans to establish subsidiary companies based on 21 departments, including rolling stock repair plants, concrete sleeper factories and IT and research units.
“A public joint-stock company the Ukrainian Railways should become a driving force for the Ukrainian economy,” Prime Minister of Ukraine Arseniy Yatsenyuk said, during a Government meeting on September 2.
After a valuation, made by Deloitte audit firm, the assets of the company amounted over UAH 245 billion (EUR 9.77 billion).
According to the Ministry of Infrastructure of Ukraine, the change is aimed at liberalisation of the railway conveyance market and the introduction of a market model of functioning of the sector.
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