Bolshevik, the oldest machine building plant in Kyiv, will probably be sold for the value of its 35 hectares of prime real estate,

predicts Dmytro Sennychenko, head of the State Property Fund. Founded 140 years ago by a Swiss engineer, the state-owned factory has fallen on hard times, with production dwindling and bushes growing out of rooves. But, for a developer, the location is gold: fronting on Peremohy, Kyiv’s 10-lane access highway from the west, Bolshevik is next to the Shuliavska metro station and near the Zoo, two parks and Kyiv Polytechnic Institute. Sennychenko predicts earnings from the sale will go to paying

The Rada passed a bill yesterday to resume privatization of large state owned corporations – one year after sales were suspended due to the coronavirus pandemic.

The State Property Fund hopes to raise as much as $430 million this year by selling six large state companies, including Kyiv’s President Hotel, Kyiv Bolshevik Plant, the Odesa Portside Plant and United Mining and Chemical Company. Dmytro Sennychenko, head of the Fund, wrote on Facebook: “The Fund will bring the budget, through transparent privatization auctions in 2021, 4 times more than last year!” Included in the auction earnings goal is $110 million from small-scale privatizations. So far this year,