The State Property Fund of Ukraine (SPF) has permitted OJSC Sumy-based Frunze engineering production amalgamation and the managing company Bryansk engineering plant (Russia) that is part of Transmashholding of Russia, to bid for a 77% stake in OJSC Luhanskteplovoz Holding.

"The State Property Fund has significantly analyzed the documents submitted for a tender to sell a 77% stake in OJSC Luhanskteplovoz and following the analysis, in holding the laws, permitted the Frunze production amalgamation and Bryansk engineering plant to bid," the SPF press service told Interfax-Ukraine.

As it was reported earlier, the fund proclaimed a tender on March 31, 2010 to sell a 77.001% stake in Luhanskteplovoz. The tender will be held on June 15, 2010. The original price of the stake is UAH 400 million.

Luhanskteplovoz manufactures mainline and shunting diesel locomotives, diesel and electric trains, trams, and spare parts for railway transport. Its major purchasers are Ukraine's Ukrzaliznytsia railways administration and the Russian Railways (RZD).