KYIV, Oct 21 - The State Property Fund of Ukraine (SPF) expects to sell First Kyiv Machine Building Plant, formerly known as Bilshovyk plant with massive property in downtown Kyiv, to the highest bidder on October 27, deputy head of the SPF Kostiantyn Koshelenko said.

The starting price of First Kyiv Machine Building Plant is set at UAH 1.39 billion. The new owner will have to pay off the debts of the plant to the labor collective, the state budget and other creditors (now the debts amount to more than UAH 500 million), fulfill the current collective agreement and prevent dismissal within a certain period.