At a meeting on October 11, the Government decided to sell the state-owned stake in the United Mining and Chemical Company (UMCC) for almost UAH 4 billion. This was announced by Prime Minister Denys Shmyhal.

He reminded that this week an auction had been held to privatize the state-owned UMCC, Ukraine's major titanium ore mining and processing enterprise.

The winner of the auction offered about UAH 4 billion. It will also be obliged to invest at least UAH 400 million in the technical modernization of the enterprise. 

“Privatization of state-owned enterprises is a crucial element in developing our economy and increasing investment. It also means transparency and reduction of corruption risks, which is a systemic policy,” said Denys Shmyhal, adding that one of the successful examples of such a policy is the launch of the Land Bank project.

Thanks to it, farmers can lease state agricultural land at open auctions in the Prozorro.Sale system. 

“The Land Bank is about transparency in the use of state land, when every farmer can take part in the relevant auctions. This week we have the first result. The state budget has received UAH 22 million for six state-owned plots with an area of more than 500 hectares,” the Prime Minister said.