The State Property Fund of Ukraine has put up for privatization 97.5% of the shares of Zaporizhzhia Aluminum Production Plant (ZalK). This was announced by the head of the Fund Vitaliy Koval in Telegram, UNN reports.
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The starting price of the plant's shares is reportedly UAH 151.9 million.
According to Koval, Zalc, which was once the only primary aluminum producer in Ukraine with a capacity of more than 100,000 tons per year, has a complicated history.
“Under the influence of Russian capital, this strategic enterprise has fallen into decline. Overdue accounts payable reached UAH 6.44 billion. However, the state managed to regain control of the plant. Now privatization opens a new chapter in the history of Zaliznyk, giving it a chance for revival under the leadership of an effective pro-Ukrainian owner,” Koval said.
According to him, despite the challenges, ZALK remains a powerful industrial complex. It has 1,497 real estate objects with a total area of 370,929.85 m². The production is located on 25 registered land plots with a total area of 216.0856 hectares. It has 291 units of transport and special equipment.
“The privatization of Zaliznytsia is an opportunity to implement a large-scale business project and contribute to the economic development of the region. In the context of Ukraine's post-war recovery, such large-scale industrial facilities can become key elements in rebuilding and strengthening the national economy,” said the Head of the State Property Fund.
Under the terms of the auction, the new owner is obliged to pay off wage and budget arrears within 18 months and to prevent the company's employees from being laid off for 6 months.
The online auction will take place on August 6 in the Prozorro.Sale system. Applications will be accepted until August 5 inclusive.