Ukraine’s State Property Fund is again selling a 97.5458 per cent stake in the Zaporizhzhia Aluminum Plant (ZAlK), which is 100 per cent state-owned. The auction is scheduled to start at UAH 75.93 million (excluding VAT; USD 1.81 million). The plant is located in the city of Zaporizhzhia, near the national highway N08 and a railway.
Image credit: en.wikipedia.org/wiki/Zaporizhzhia_Foundry_and_Mechanical_Plant
According to the State Property Fund, “The Zaporizhzhia Aluminum Plant is an excellent brownfield project.” The Fund states that the site offers a large total area of premises and land.
The new owner may use the plant for their business operations or relocation. The company’s balance sheet includes 1,497 units of real estate and infrastructure totalling 370,929.85 sq. m.
Last update: Zaporozhye Aluminium Plant auction cancelled, but eyed for industrial park: Ukraine official
The asset list also includes 292 units of vehicles and special equipment. There are 25 registered land plots with a total area of 216.0856 hectares. The asset has been offered before, but no buyer was found. The previous auction was scheduled for November 4, 2025, with a starting price of UAH 151.9 million (excluding VAT; USD 3.65 million).
State ownership of ZAlK was restored after a long legal process. In 2015, the state regained 68 per cent of the shares and transferred them to the State Property Fund. The remaining 29.5 per cent of shares were confiscated as state revenue in February 2023. This was based on a lawsuit filed by the Ministry of Justice.
The State Property Fund states that former owners “practically looted the enterprise and destroyed the unique production of primary aluminium.” The plant previously produced more than 100,000 tonnes of primary aluminium per year and was the only producer in Ukraine.
Operations at ZAlK were shut down in stages starting in 2009. By July 2014, all workshops had ceased production. In 2004, the Russian group SUAL acquired ZAlK. In 2007, control shifted to Rusal after a merger involving Rusal, SUAL and Glencore.
The ultimate beneficiary was Russian oligarch Oleg Deripaska. After years of legal battles, a court annulled the sale and purchase agreements of 68.01 per cent of ZAlK’s shares and returned this package to state ownership.
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