The privatization auction for the Zaporizhzhia Industrial Aluminum Plant on August 6 did not take place because there were no parties interested in participating in it, according to the Prozorro.Sales auction platform. The starting price of the plant was set at ₴151.86M ($3.8M). According to the privatization rules, a new auction has been scheduled for August 14, in which the starting price will be halved to ₴75.93M ($1.85M).
The Russian plant owners destroyed the enterprise over a period of 14 years, which was the only producer of primary aluminum in Ukraine. The main source of the company’s income was the rental of property and the sale of assets and stocks. In 2023, the plant’s loss exceeded ₴57M, and debts amounted to more than ₴6.4B.
The head of the State Property Fund noted that a new owner will be able to repurpose the enterprise after the auction and open a new production facility.