The Cabinet of Ministers has made a decision to privatize 50%+1 share in the Kharkivmetrobud company (Kharkiv), Dmytro Parfemenko, the State Property Fund's acting chairman, told reporters.

The government has approved a plan for company's share placement.

The shareholding will be auctioned off after preliminary estimation.

As Ukrainian News earlier reported, the Kharkiv Regional Economic Court launched a bankruptcy proceeding against Kharkivmetrobud in June.

Kharkivmetrobud incurred losses of UAH 9.6 million in the previous year with a net revenue being up by 23.58% or UAH 11.429 million to UAH 59.9 million compared with the year 2007.

The state owns 50% of the shares in the company and the State Property Fund controls the stake.

The Slovak Arca Investments joint stock company holds 10.55% of the shares of the company, the British Tudorabbey Aviation (with an office in Kyiv) 15.04%, and the Arca Сapital Bohemia Company registered in the Czech Republic owns 11.73% of the shares.

Kharkivmetrobud builds and reconstructs tunnels, subway and other facilities.