Odessa Port Plant to pass into the private ownership

Odessa Port Plant to pass into the private ownership

24.02.2016 News

On June 30, 2016 the State Property Fund of Ukraine (SPF) plans to launch tender for the privatization of the  99, 6% shares of one of the country’s largest manufacturers of chemical products – Odessa Port Plant.

“Carrying out of competition for the sale of stock of shares with an open offer of cost on the auction principle and determine the winner of the tender by a committee of the competition will be held on June 30, 2016”, – stated in the sales target of the enterprise.

According to the plan, this stage of privatization will continue 30-45 days.

Also, on May 4 the Fund plans meeting of the tender commission on the definition of the initial sale price and the fixed conditions of the tender.

According to the document, the working group of the Cabinet of Ministers will have to provide funding recommendations on the initial price of shares of the plant on May, 5.

Earlier, the head of the Fund –  Igor Bilous said that the State Property Fund plans to sell the Odessa Port plant in June this year. He pointed that is is prohibited to put off the privatization of the enterprise, because the situation on the market of ammonia and urea will not get better, and the plant doesn’t have a lot of the power reserve.

The Odessa Port Plant (Yuzhny, Odessa region) is the second largest producer of ammonia and urea, and the third in the production of nitrogen fertilizers in Ukraine. The company also carries out the overload of chemicals entering from CIS countries for export. The factory is a monopolist in the national market of specialization on reception, cooling and transshipment of ammonia.

Source: segodnya.ua

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