For the first time since 2019, the State Property Fund has put a Druzhbiv quarry, Quartz, up for auction in the Zhytomyr Region. The auction is scheduled for March 9. The lot’s starting price is UAH 4.8M ($130,000), and the auction winner must pay UAH 2.8M of the company’s debts. Previously, the quarry mined sand, gravel, clay, and kaolin. However, it has been idle for several years and accumulated some debt: UAH 95,000 in losses in 2021 and UAH 290,000 in 2022. The area of the Quartz quarry is more than 9,000 square meters. In addition, the enterprise includes 24 real estate objects, which are currently unsatisfactory and require significant investment to resume operation. In total, the State Property Fund plans to privatize six mining enterprises in 2023.
A Ukrainian quarry is being privatized for the first time in four years.
Excavator works in a sand pit