The Cabinet of Ministers of Ukraine on November 25 approved the supervisory board and audit commission of the newly created public joint-stock company Ukrainska Zaliznytsia (Ukrzaliznytsia), Infrastructure Minister of Ukraine Andriy Pyvovarsky wrote on his Facebook page.

Pyvovarsky said that the supervisory board of Ukrzaliznytsia includes director of the public ownership department of the Infrastructure Ministry Yuriy Hvozdev, Deputy Economic Development and Trade Minister Ruslan Korzh, director of the finance department for industry and ownership at the Finance Ministry Oleh Melnyk, First Deputy Minister of the Cabinet of Ministers Oleh Parakuda, First Deputy Head of the State Property Fund of Ukraine Dmytro Parfenenko, First Deputy Infrastructure Minister Volodymyr Shulmeister and Deputy Infrastructure Minister Mykola Snitko.

The audit commission of Ukrzaliznytsia includes head of the transport and industrial complex oversight department of the State Financial Inspectorate of Ukraine Ruslan Dorosh, head of the financial planning department for pubic economic sector of the secretariat of the Cabinet of Ministers Yuriy Matiushenko, deputy head of the oversight and internal audit department of the State Property Fund of Ukraine Viktor Sanalatiy, director of the state policy department in the railway transport area of the Infrastructure Ministry Oleksandr Fedorenko and director of the road market and transportation strategic development department of the Infrastructure Ministry Roman Khmil.

"This means that we've become one step closer to the completion of corporatization. We're waiting that the resolution signed by the prime minister is signed. Then the supervisory board will hold its first meeting where the contracts of board members and the transfer of assets to the public joint-stock company will be approved. Then the corporatization will be finished from the procedural point of view. The reorganization inside the company will continue," Pyvovarsky said.

Ukrainska Zaliznytsia, 100% of the shares of which will be in state ownership without the right to sell them, will be created on the basis of Ukrzaliznytsia and over 50 railway enterprises which are to be reorganized through mergers.

The list of companies which Ukrainska Zaliznytsia will be based on includes six railroads, wagon repair plants, railway state-owned enterprises, research and design institutes of railway transport, and a number of design and design-engineering bureaus.