The State Property Fund (SPF) of Ukraine publicly presented the Large-Scale Privatization 2024 project on Tuesday and named its top five facilities: the four-star Hotel Ukraine located downtown Kyiv and Kyiv's Ocean Plaza shopping mall, the country's largest titanium ore producer United Mining and Chemical Company (UMCC), the Demurinsky Mining and Processing Plant for titanium and zirconium extraction, and the aerated concrete producer Aeroc.

"For large-scale privatization, the Fund not only offers investors first-class assets but also guarantees the highest transparency in the process," said SPF Head Vitaliy Koval at the presentation, organized in partnership with the USAID/UKaid State-Owned Enterprises Reform Activity (SOERA) and gathered over 150 representatives from the government, parliament, international institutions, the diplomatic corps, and businesses.

First Deputy Prime Minister, Minister of Economy Yulia Svyrydenko said that large-scale privatization is a development tool aimed at attracting effective owners.

"Large-scale privatization opens opportunities for new investments needed for the restoration and modernization of our country... The government is systematically working on reforming the effective management of state-owned property, particularly through privatization. Over the past two years, we have transferred more than 1,200 enterprises to the State Property Fund, most of which have found investors," she said.

Dmytro Natalukha, chairman of the parliamentary committee on economic development, expressed hope that large-scale privatization would attract the capital of Ukraine's allies and partners so that they could profit from these assets together with the state.

Koval emphasized that for the first time in Ukraine's history, large-scale privatization would take place entirely online on the Prozorro.Sales platform.

"This will ensure equal opportunities for participants. Through open auctions, we aim to attract effective owners capable of modernizing enterprises and increasing their competitiveness in the global market," added Koval.

According to him, the successful experience of small-scale privatization, which has brought over UAH 5 billion to the state budget since its resumption in September 2022, confirms the effectiveness of this investment attraction mechanism.

According to Deputy Head of the President's Office Rostyslav Shurma, small-scale privatization in recent years has shown real results: auction prices are even better than before the war.

"A completely transparent process has been established. I think no one doubts that something is happening under the table. Every auction is open and well-prepared," he said.

Hotel Ukraine is a four-star hotel near the central Independence Square, has a starting price of UAH 1.05 billion, with the auction scheduled for September 18.

UMCC is the largest enterprise in Ukraine for the extraction and processing of titanium ores, has a starting price of UAH 3.9 billion, with the auction scheduled for October 9.

The other three facilities in the top five were owned by sanctioned individuals and were nationalized by the High Anti-Corruption Court. Aeroc LLC is a leading manufacturer of aerated concrete products with production facilities in Kyiv and Lviv regions, Demurinsky Mining and Processing Plant LLC is a mining and processing plant developing the Vovchansk titanium and zirconium deposit, and Investment Union Lybid LLC (Ocean Plaza shopping mall) is one of the largest shopping and entertainment centers in Kyiv.

Proceeds from the privatization of state-owned enterprises go to Ukraine's state budget, while funds from the sale of nationalized assets go to the fund for eliminating the consequences of armed aggression.