KYIV. Nov 11 (Interfax-Ukraine) – The State Property Fund of Ukraine (SPF) has included the integrated property complex of state-owned enterprise Aluminum Foil Factory (ZAF, Zaporizhia) in the list of objects subject to class A privatization (small privatization).
According to a fund report in the Vidomosti Pryvatyzatsii newspaper, the plant is to be sold at auction.
Under current regulations, the agency will have to select an appraiser to estimate the object before its auction.
As reported, the then state Zaporizhia Aluminum Combine (ZAlK) in 1995 attracted a $76.45 million loan under state guarantees to build a plant producing aluminum foil for food packaging, the equipment for which was supplied by Italy’s Fata. It was assumed that the production capacity will allow production of 36,000 tonnes of packaging a year, including 27,000 tonnes of smooth aluminum foil. During the subsequent privatization of ZAlK the unfinished plant was not included in its charter capital, remaining in state ownership.
