Ukraine has lowered the sale price of one of Europe’s largest engine component factories.

Ukraine’s Cabinet of Ministers approved the terms for selling the government’s 100% stake in the Motordetal-Konotop enterprise’s authorized capital that was previously seized from a Russian senator. The starting sale price was set at ₴268M ($6.4M), which is ₴10M less than the previous initial price set by the cabinet.

Motordetal-Konotop is one of Europe’s largest factories, producing cylinder liners for automobiles, tractors, ships, heat engines, and stationary internal combustion engines. Its production facilities include a cast iron foundry, machining, and auxiliary workshops. Located in Konotop, this profitable and budget-contributing enterprise employs over 700 people. Its clients include well-known companies such as Rolls-Royce, Scania, MAN, Iveco, Mercedes-Benz, Volvo, Renault, and CAT.

The State Property Fund successfully sold the property complex of the Ukrrybproekt state institute in Kyiv for ₴91M ($2.2M). According to auction results, the price surged by 500% from the starting price of ₴15.07M. Additionally, the buyer must pay VAT and settle the institution’s wage debts and outstanding payments to the budget.