The Odessa Port Plant will be put up for privatization for more than 4.3 billion hryvnia

The Cabinet of Ministers has approved the terms for the privatization of the state’s stake in the Odesa Port Plant. The starting price for the company at auction will exceed 4.3 billion hryvnias.

The government also approved the rules for the sale of two nationalized assets that were previously subject to sanctions: Demurinsky Mining and Processing Plant LLC and Motordetal-Konotop LLC. This decision is intended to attract investment and boost state budget revenues.

The state’s stake in OPZ will be put up for an open electronic auction with a starting price of over 4.3 billion hryvnias. Financial obligations have been set for the buyer: to invest at least 500 million hryvnias in modernizing the enterprise and improving its energy efficiency; and to maintain its core business activities.

The government has also set the starting price for companies subject to sanctions:

• the starting price for Demurinsky GZK LLC is 1.82 billion hryvnias; 

• the starting price for “Motordetal-Konotop” LLC is 415.5 million UAH.

All proceeds from the sale of Demurinsky GZK and MotorDetal-Konotop will go to the Fund for the Elimination of the Consequences of Armed Aggression to restore destroyed infrastructure. Auctions for all three assets will take place on the “Prozorro.Sales” platform.

Prime Minister Yulia Svyrydenko announced this following a government meeting.

The assets of FC “Hoverla” have been put up for auction.

The state has put the Lysovychi oil and gas field up for auction for ₴1.1 billion.