Ukraine presents the Large Scale Privatization – 2024 project: Which objects will be sold first?

The State Property Fund (SPFU) presented its Great Privatization – 2024 project and named the first five objects to be auctioned. First is the 4-star hotel Ukraine in the center of Kyiv with a starting price of ₴1.05B; the auction is scheduled for September 18. The second is UMCC, Ukraine’s largest mining and titanium ore processor, which will be sold with a starting price of ₴3.9B on October 9.

The remaining three objects had belonged to sanctioned persons and were then nationalized: Aeroc is a leading manufacturer of aerated concrete products with production facilities in Kyiv, in the Lviv region, Demurinsky GZK is a mining and processing enterprise that operates the Vovchansk deposit of titanium and zirconium, as well as Kyiv’s largest shopping center, Ocean Plaza.

“In the format of large-scale privatization, the SPFU not only offers investors powerful assets but also guarantees the maximum level of process transparency,” noted SPFU head, Vitaliy Koval.

He added that smaller privatization efforts have already brought more than ₴5B to the state budget.