State Property Fund of Ukraine assumes possibility of Odessa Port Plant shutdown

Earlier today tender for privatization of Odessa Port Plant failed, as there were no applications from potential purchasers
17:35, 7 December 2016

Open source

Chairman of the State Property Fund (SPF) Ihor Bilous admits the possibility of stopping the largest producer of ammonia and urea - Odessa Port Plant. He said this to journalists, "Ukrainian News" inform.

"We have to decide. Either we work and bear the losses, or we stop the plant and wait for better times.  In fact it is a common practice in the private sector, plenty of factories around the world do not work now,” Bilous said.

According to him, if SPF does not find a solution to minimize losses of Odessa Port Plant, the company's supervisory board will vote in favor of shutting down the plant.

He added that allows the transfer of the management of Odessa Port Plant to the investor, who has access to cheap gas.

Earlier today it became known that the second tender for the sale of JSC "Odessa Port Plant" did not take place due to lack of applications of potential buyers. There has already been a competition for the sale of the Odessa Port Plant. However, not a single application was received, so the State Property Fund recognized the competition as failed.

Today, in connection with another failed attempt to privatize the Odessa Port Plant, Prime Minister Volodymyr Groysman emphasized the inefficiency of the State Property Fund (SPF) and offered to hear his leadership until the end of the month. Groysman also said that if he had the relevant powers, he would fire the whole leadership of the State Property Fund.

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