The State Property Fund of Ukraine (SPF) is preparing to put up Demurinsky Mining and Processing Plant owned by Russian businessman Mikhail Shelkov for privatization, SPF Head Rustem Umerov said in an interview with Forbes Ukraine.

Meanwhile, the State Property Fund is also working to take control of the assets of other Russian businessmen, for example, Vladimir Yevtushenkov and Oleg Deripaska, the report said.

"Legally, Mykolaiv alumina refinery has not yet reached the management of the State Property Fund. As soon as we get it under management, we plan to quickly put it up for auction," Umerov said.

He added that it generally takes 60-90 days to prepare a site for privatization, and it is realistic to start the privatization of the alumina refinery in the second or third quarter of this year.

"If the state gives us other Russian assets confiscated by court ruling, we will put them up for privatization. We are moving as quickly as possible on all cases," Umerov said.