State Company ‘Ukrbud’ Sold to Georgian Businessman for 805 Million UAH
The state construction company ‘Ukrbud’ has been sold as part of a large-scale privatization. The new owner is the company Petro Oil and Chemicals, led by Georgian citizen David Bejuashvili. During the auction, he offered 805 million UAH, which is three times higher than the initial price of 262.6 million UAH (excluding VAT).
This is reported by AgroReview
Features of Privatization and Company Operations
In September 2024, the Cabinet of Ministers included ‘Ukrbud’ in the list of large-scale privatization objects, and in March 2025, the starting price and sale conditions were approved. Over its 21 years of operation, the company has built a dozen factories, four residential buildings in Kyiv, and participated in the creation of the sarcophagus over the fourth reactor block of the Chernobyl Nuclear Power Plant.
In 2024, ‘Ukrbud’ did not carry out any construction work. Over the past year, the company’s revenue nearly halved to 67 million UAH, while losses quadrupled to 13.5 million UAH.
Structure of the Privatization Object
- 147 units of real estate in various regions of Ukraine;
- 10 subsidiaries;
- Assets with a book value of over 255 million UAH;
- 17 land plots with a total area of over 16 hectares;
- Over 250 active lease agreements with various counterparties.
“The head office is located in Kyiv near the railway and the ‘Livoberezhna’ metro station.”
The main area of activity for Petro Oil and Chemicals is the production of petroleum products. The ‘Ukrbud’ office is located in Kyiv, near the railway track and the ‘Livoberezhna’ metro station.