Ukraine’s Mykolaiv Alumina Plant Requires Stabilization, Says State Property Fund Head

The Mykolaiv Alumina Plant, previously managed by Russian Aluminum (Rusal) and now under the State Property Fund (SPF) of Ukraine, needs stabilization, according to Vitaliy Koval, Head of the SPF, after visiting the site. “Our main goal is to stabilize the situation in and around the enterprise. I am personally convinced that the plant is in good condition, the technological equipment has been preserved, and the staff demonstrates high morale,” Koval stated. He was accompanied by Vitaliy Kim, Head of the Mykolaiv Regional State Administration.

Koval emphasized the importance of environmental safety at the plant. The SPF, in collaboration with local authorities and the plant's staff, is working to create conditions for the swift resumption of operations and the overall development of the industry.

The plant, controlled by Russian oligarch Oleg Deripaska since the 2000s, is one of the largest non-ferrous metallurgy enterprises in Europe and has been idle since 2022. In June 2023, the Appeals Chamber of the High Anti-Corruption Court (HACC) upheld the decision to confiscate Deripaska’s Ukrainian assets, including 100% of Aluminum of Ukraine Company, Mykolaiv Alumina Plant, Hlukhivsky Quartzite Quarry, and Zaporizhalumintorg.