Odesa Port-Side Chemical Plant sale postponed, again

The State Property Fund of Ukraine (SPFU) has decided to hold an auction for the sale of the state-owned stake in the Odesa Port-Side Chemical Plant (OPP) in early December instead of November as it was scheduled earlier, SPFU Head Ihor Bilous told UNIAN.

”A selection commission will be formed by the end of this week and we will submit documents to the Cabinet [of Ministers] next week. In the first half of December, the OPP will be put up for sale,” Bilous said, noting that foreign investors were interested in buying the plant.

As UNIAN reported earlier, the OPP is a major state entity on the privatization list.

The July auction for the sale of 99.6% state-owned shares  in the OPP, with a starting price of UAH 13.175 billion (some $520 million), was put on hold due to the lack of interest, as the price of the asset was believed to be overstated.

The SPFU then stated the starting price of the OPP, to be put up for sale at a repeat auction in November, should be reduced to $150 million, taking into account the company`s large debt.

UNIAN memo. The OPP, which is located in the town of Yuzhny in Odesa, is Ukraine`s second-largest ammonia and carbamide producer and the third-largest manufacturer of nitrogen fertilizers.

The company also handles shipments of chemical products arriving from CIS countries and exports. The company holds a monopoly in the national market of specialized services for the receipt, cooling and transshipment of ammonia.

Avatar photo


An independent media focused on Ukraine.
Follow us on social media:

Submit a Comment

Your email address will not be published.

Share This

Share this post with your friends!