Dmytro Sennychenko: auction for privatization of the JSC «United Mining and Chemical Company» will take place on August 31 online

Dmytro Sennychenko, Chairman of the State Property Fund of Ukraine, during an interview with the Interfax-Ukraine News Agency spoke about the details of the auction for the privatization of the JSC  «United Mining and Chemical Company» with the starting price of UAH 3.7 billion.

According to Chairman of the State Property Fund, the auction for the privatization of the JSC  «UMCC» will take place according to the classic model: with price increase in increments of UAH 50 million, with the participation of an auctioneer, and everyone will be able to watch the live stream.

At the same time, the privatization auction itself is only the beginning, since the investor must ensure the implementation of social, environmental and financial conditions.

 «The interests of employees and the state will be protected, and at least another UAH 400 million will be allocated for the modernization of the UMCC», - Dmytro Sennychenko, Chairman of the State Property Fund said.

He also emphasized that Large-scale Privatization in Ukraine has not taken place for 15 years, and today it has become possible due to strong political will and consolidation of efforts of all authorities.

 «Today, the position of all branches of government is the same: Ukraine needs privatization. We must attract strategic investors; create conditions for economic development and the emergence of new jobs. And I am sure that together we will overcome any challenges on the way to this goal,» - Dmytro Sennychenko stressed.

Chairman of the State Property Fund also noted that due to the norms of the current legislation, individuals or companies from the aggressor state, offshore structures in which it is impossible to clearly identify the ultimate owners cannot participate in the auction, as well as persons to whom sanctions are applied and related companies or people. In total, such a ban applies to 13 categories.