The combined starting price for these significant assets is set at UAH 5 billion.
Key Highlights
- OGHC Starting Price: UAH 3,899,358,000
- Ukraine Hotel Starting Price: UAH 1,047,637,152
Details of the Privatization The Ministry of Economy of Ukraine announced that the State Property Fund will conduct auction commission meetings on July 15 to discuss the privatization of these assets. The results will lead to the publication of privatization auction notices.
Features of the Assets for Sale
United Mining and Chemical Company (OGHC):
- Significance: The largest enterprise in Ukraine and one of the largest globally for titanium ore extraction and beneficiation.
- Components: Includes a mining and metallurgical plant and a mining and beneficiation enterprise.
- Privatization Conditions: The new owner must invest at least UAH 400 million in development and settle any existing debts.
Hotel "Ukraine":
- Location: Centrally located in Kyiv.
- Facilities: 365 rooms, 8 conference halls, a business center, a restaurant, and other infrastructure.
- Sale Conditions: The new owner must continue to provide hotel services.
No Price Reduction During Martial Law The Ministry of Economy has stipulated that during martial law, there will be no repeated auctions with lower starting prices. Thus, the stated values are the minimum required for a contract to be concluded between the state and the new owner.
Conclusion The Ukrainian government's decision to privatize major state assets, including one of the world's largest producers of titanium raw materials, marks a significant step in its economic strategy. The stringent conditions and minimum price requirements ensure that these vital enterprises will continue to operate effectively and contribute to the country's economy under new ownership.
