Kyiv government plans to sell three major industrial businesses in Zaporizhzhia Oblast, which produce aluminum, titanium, and silicon products, and could become a promising asset for future investors, The State Property Fund of Ukraine (FDMU) said in a Facebook post on Feb. 21.
According to the FDMU Deputy Chairman Yana Matieva, the fund’s goal is to prepare the businesses for privatization by making them attractive to investors and to direct the funds they’ll get from the privatization to support Ukraine’s Defense Forces in the outgoing war against Russian troops.
FDM is preparing to privatize Zaporizhzhia Titanium Magnesium Combine, Europe’s only producer of sponge titanium, the Kremniypolimer, which is the only producer of silicon products in Ukraine, and Zaporizʹkij Manufacturing Aluminum Combine, the only producer of primary aluminum in the country and former flagship of the aluminum industry.
As the only producers of sponge titanium and primary aluminum in Europe and of silicon products in Ukraine, all three enterprises would be sound investments for potential buyers.
FDM has previously announced plans to sell a lucrative piece of real estate- the property of a former Arsenal factory in central Kyiv.
In another post on Tuesday, FDM announced that Ukraine is one step closer to the Great Privatization after the Kyiv government approved the Procedure for conducting electronic auctions for large privatization objects.
FDMU Chairman Rustem Umerov pointed out that that great privatization is an opportunity to attract significant private investment in economic development, create new jobs and increase Ukrainian enterprises’ competitiveness.
The next necessary step in the process of launching the great privatization is for Verkhovna Rada to adopt a decision that will allow the FDMU to set requirements for potential investors.
According to Prime Minister Denys Shmyhal, privatization, digitalization, and deregulation are key elements of the anti-corruption strategy of the Kyiv government and, as he noted, the approved procedure will make the process more transparent, competitive, and efficient.
Large objects that will be the subjects of the privatization, among which there are assets worth over 250 million UAH, were previously sold at offline auctions.
