Ukrainian premier announces privatization of United Mining and Chemical Company in 2024

The Ukrainian government expects the resumption of large-scale privatization in 2024, part of which should be the sale of United Mining and Chemical Company, which mines titanium-containing ores, said Prime Minister Denys Shmyhal.

“We are working with the State Property Fund so that it is started and completed,” the head of government said at a press conference in Kyiv on Monday.

“Odesa port-side chemical plant, Centrenergo, coal mines are a number of other objects that will be included in the objects of large-scale privatization,” Shmyhal added.

According to him, small-scale privatization continues, which forms growth points in the economy and gives quite significant results for the budget.

Among the promising projects for foreign investors, the prime minister also named the extraction of critical raw materials, of which there are 22 types out of 30 existing in Ukraine.

“The production of batteries for electric cars, the full production cycle of these electric cars, the chemical industry, wood processing, including cellulose production, flow glass and mechanical engineering are the areas that are important today, interesting to investors, interesting to us as a country in order to boost the economy,” the prime minister said.

Proceeds from privatization in 2023, according to the Ministry of Finance, amounted to UAH 3.2 billion. The 2024 state budget assumes their increase to UAH 4 billion, including through the resumption of large-scale privatization.


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