At its meeting today, the Government has transferred to the State Property Fund of Ukraine 100% of the shares of major state-owned enterprises, including JSC “State Food and Grain Corporation of Ukraine”.
“It is the largest corporation – national operator of Ukrainian grain market and the largest flour producer in the country. On paper, for some reason, it is unprofitable and inefficient. Through privatization, the company will have a chance to modernize its facilities, create new jobs and pay more taxes to the state budget of Ukraine,” comments on the decision Prime Minister of Ukraine Oleksiy Honcharuk.
With a view to further privatization, the state-owned enterprises will undergo restructurization and be prepared for transparent auctions with the participation of private investors.
“State Food and Grain Corporation of Ukraine” (SFGCU) JSC is a large state-owned corporation that is one of the ten major grain exporters in Ukraine, as well as the largest flour producer in the country. 227 grain weighing complexes and 47 elevators, strategic in terms of logistics assets, require renovation and investment.
The Government also transferred for large-scale privatization four major state-owned companies, such as: JSC Bolshevik Plant (JSC "First Kyiv Machine-building Plant"), JSC "State Food and Grain Corporation of Ukraine", SJSC "Bread of Ukraine" and SE "Artyomsol of Ukraine". Enterprises will be restructured and prepared for transparent auctions with the involvement of private investors.