“Big Privatization-2024” starts in Ukraine: Ministry of Economy names top 5 objects for sale
Kyiv • UNN
The Ministry of Economy has announced the start of the 'Big Privatization-2024'. Five key facilities will be put up for online auctions, including the Ukraina Hotel and the United Mining and Chemical Company.
The "Big Privatization-2024" starts in Ukraine, the Ministry of Economy has announced the top 5 objects that will be put up for auction this year, UNN reports.
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"The government is systematically working on reforming the effective management of state property, in particular through privatization. Over the past two years, we have transferred more than 1,200 enterprises to the State Property Fund, most of which have found investors," emphasized Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine.
Head of the SPFU Vitaliy Koval emphasized that "the cumulative effect will be much higher than the sale price of the assets, because for every hryvnia of property value, the new owners invest UAH 4 in modernization, creating new jobs, paying taxes and generating more added value.
According to the Ministry of Economy, for the first time in Ukraine's history, the government is offering investors opportunities to participate in the modernization of key sectors of the economy through online privatization auctions. Here are the top 5 objects that will be put up for auction this year:
- Hotel Ukraina: A 4-star hotel in the heart of the capital, with a starting price of over UAH 1 billion. The auction will take place on September 18, 2024.
- United Mining and Chemical Company (UMCC): Ukraine's largest titanium ore mining and processing company, with a starting price of almost UAH 3.9 billion. The auction is scheduled for October 9, 2024.
- Aeroc LLC: Leading manufacturer of aerated concrete products with production facilities in Kyiv and Lviv regions.
- Demurinsky GOK LLC: Mining and processing company developing the Vovchanske titanium and zirconium deposit.
- Investment Union Lybid LLC (Ocean Plaza shopping center): One of the largest shopping and entertainment centers in Kyiv.
"The money from privatization goes to the state budget, and the money from the sale of sanctioned assets goes to the fund for liquidation of the consequences of armed aggression," the Ministry of Economy said.
Large-scale privatization will take place through the Prozorro.Sale online auction system.
