Ukraine hopes to start selling confiscated russian assets at privatisation auctions in 2023 – Umerov
The State Property Fund expects to start sales at the end of Q2 or the beginning of Q3
The government has already transferred 102 assets to the State Property Fund, mainly real estate and cars. Preparation for their privatisation is underway, as well as efforts to restore operations, pay taxes, and wages.
This was announced by Rustem Umerov, Head of the State Property Fund, in an interview with Reuters.
"russian business in some industries was a significant market player," he said. "Our goal is to take it all into state ownership, prepare it and sell it. We want these enterprises to work for the state of Ukraine, for the Ukrainian citizens," explained Rustem Umerov.
One of the most significant assets is the Demurinsky Mining and Processing plant. This enterprise produces raw materials for titanium production and previously belonged to the russian billionaire and shareholder of the titanium corporation VSMPO-AVISMA, Mikhail Shelkov.
In February, the government transferred this asset to the management of the State Property Fund for its further privatisation. The plant, which employs 284 people, has partially resumed production. The Fund hopes to sell it this year.
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