The State Property Fund (SPF), headed by Rustem Umerov, has listed over 35 hundred companies as state-owned, with almost 18 hundred of them bankrupt and non-functional.
Distilleries, grain elevators and hundreds of abandoned facilities are up for privatization. Umerov said that such investments could yield up to 20 times returns in the future. Kiev is hoping for a $400 million payout from selling companies like Odessky a fertilizer producer, and United Mining, a titanium producer and power generator Centrenergo PJSC. An additional $190 million could come from leasing farmland.
Most of the Soviet era companies are rapidly losing their value, according to Umerov. He added that if they aren’t sold this year, their only value will be real estate and land in the following year.
