The State Property Fund of Ukraine has once again announced the sale of the Zaporizhzhia Aluminum Plant (ZALK), previously controlled by Russian businessman Oleg Deripaska. The new auction for 97.5458% of the shares in Zaporizhzhia Production Aluminum Plant JSC is scheduled for November 4, 2025, with a starting price of UAH 151.9 million, according to the Fund’s statement.
The enterprise is located in Zaporizhzhia, near the national highway H08 and a railway line. Among its advantages are the large area of premises and land plots, making it attractive for business operations or production relocation. ZALK’s assets include 1,497 real estate and infrastructure facilities with a total area of 370,900 sq. m, 292 units of transport and special equipment, and 25 land plots totaling 216.09 hectares. The company’s core activity is aluminum production, with its main product being aluminum wire rod made from tolling raw materials. Applications to participate in the auction are accepted until 8:00 p.m. on November 3, 2025.
The State Property Fund has made several previous attempts to privatize the state-owned 97.5458% stake in ZALK, but earlier auctions were canceled due to a lack of bidders. The starting price in past tenders ranged between UAH 75.93 million and UAH 151.9 million. In 2001, 68% of the plant’s shares were purchased by AvtoVAZ-Invest, and in 2006, control passed to Velbay Holdings Limited, affiliated with Oleg Deripaska’s Russian Aluminum (RUSAL). The businessman later acquired an additional 29.5%, bringing his total ownership to 97.5% of the enterprise.
In 2015, the Ukrainian government regained ownership of 68% of the shares through a court ruling, transferring them to the State Property Fund. In February 2023, the High Anti-Corruption Court ruled in favor of the Ministry of Justice to recover the remaining 29.5% of shares for the state. Thus, by February 2024, the State Property Fund had gained full control of 97.5% of the plant’s shares.
In recent years, the Zaporizhzhia Aluminum Plant has been operating at a loss. In 2020, the company recorded losses of UAH 49.7 million, in 2021 — UAH 36.8 million, and in 2022 — UAH 59.3 million. The government now aims to find an investor capable of reviving the operations of this large industrial enterprise, which had long remained under Russian ownership.
Contact us for more information, consultation, and assistance with acquiring this asset:
+380 67 713 65 71
[email protected]
