Dmytro Sennychenko spoke about three priority large-scale privatization objects for 2021

On February 22, 2021, the Chairman of the State Property Fund of Ukraine spoke to journalists about three large-scale privatization objects that are being prepared for privatization this year. These are United Mining and Chemical Company JSC, PKMZ JSC (Bilshovyk Plant) and President-Hotel.

It was announced by the Chairman of the State Property Fund during the signing of the Memorandum of Cooperation with UkraineInvest.

“The TOP-3 large-scale privatization objects that will be privatized through a transparent auction include United Mining and Chemical Company JSC, PKMZ JSC (Bilshovyk Plant) and President-Hotel. We have done a great job to get these objects up for auction as soon as possible. But this is possible only when the Verkhovna Rada unblocks large-scale privatization,” Dmytro Sennychenko emphasized.

Due to the fact that UGCC JSC was cleared of corruption schemes, and by disclosing information about this asset, the State Property Fund can state that the number of investors interested in acquiring this company has increased.

Privatization of PKMZ JSC (Bilshovyk Plant) is scheduled for the II quarter of 2021 and is second life for this enterprise. Since in previous years the production was destroyed and now the main activity is leasing premises. At the moment, the company’s liabilities amount to UAH 500 million. Instead, privatization will allow production facilities to be removed from residential areas, and these areas will be used for the benefit of the citizens of Kyiv. This will not only save workers’ jobs, but also create new ones and modernize production.

The President-Hotel is located in the very center of Kyiv. Its privatization is also scheduled for the II quarter of 2021. To implement this, an advisor, Concorde Capital, is actively working, but the Fund closely monitors the preparation process to comply with the interests of the state.

The Chairman of the State Property Fund said that in accordance with the procedure, an advisor must recommend a starting price, which must be approved by the Government, and a market price will be determined at the transparent competitive auction.

“Our task is to provide transparent privatization and full openness of information, as well as to establish clear post-privatization conditions that ensure the protection of worker’s rights and the preservation of production,” Dmytro Sennychenko, Chairman of the State Property Fund, summed up.