On July 30, 2021, a meeting of the auction commission for privatization of  JSC “First Kyiv Machine-Building Plant (Bilshovyk Plant)” was held at the State Property Fund of Ukraine, where the issues of the starting price and privatization conditions of this large-scale privatization object were considered.

The approved package of documents with proposals for privatization terms and the starting price of the auction at the level of UAH 1,389,017,000 will be sent to the Cabinet of Ministers of Ukraine – according to the results of the meeting of the commission, which was attended by representatives of the State Property Fund of Ukraine, JSC “FKMBP”, State Concern “Ukroboronprom”, Kyiv City State Administration, Security Service of Ukraine, State Bureau of Investigation and privatization advisor LLC “KPMG-Ukraine”.

The approved privatization conditions provide, in particular, for the preservation of core activities, repayment of accounts payable and, taking into account social responsibility, provide for repayment of arrears of wages to employees and the budget, as well as investment in repair and modernization of industrial site of JSC “FKMBP” in  Zhashkiv city in the amount of over UAH 57 million.

The privatization of the Bilshovyk Plant is a chance for a second life for this company, which has more than UAH 500 million in debt. In previous years production was destroyed, and now the main activity is the lease of premises. Instead, privatization will not only save workers jobs, but also create new ones and modernize production.