Ukraine may get to $ 400m from state-run Ukrspyrt privatisation

Ukraine may get to $ 400m from state-run Ukrspyrt privatisationUkraine would be able to earn from $200 million to $400 million from privatisation of state-run enterprise Ukrspyrt, Agricultural Policy and Food Minister of Ukraine Taras Kutoviy has said.

"To privatise Ukrspyrt is the same as in the famous statement "to see Paris [and die]." If my team manages to do this, we would be part of history for sure. We have all legal mechanisms for this… I think that the state will be able to earn from $200 million to $400 million from the sale of Ukrspyrt corporation," the minister said in an interview with Dzerkalo Tyzhnia newspaper.

Kutoviy said that a bill on the specifics of privatisation of spirit and alcohol industry enterprises envisages that the distilleries will be sold to alcohol producers who would have an exclusive right to produce spirit during five years. The distilleries that would not be interesting for investors would be offered to producers of alternative fuel or as a site for other production activities.

Earlier in June 2016 Head of Ukraine's State Property Fund Ihor Bilous said that the fund is ready to accept Ukrspyrt for further privatisation.

Ukrspyrt is a large spirit producer in Ukraine. Its production capacity is 31.3 million decaliters a year. It incorporates 41 production sites.
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