The auction winner must invest half a billion hryvnias in modernization
The State Property Fund of Ukraine held a presentation of the state-owned stake in JSC Odesa Port Plant for potential investors ahead of a large-scale electronic auction. Plant management and industry experts discussed production and technical aspects of the upcoming privatization with participants. This is reported by the portal PromPolitInform, citing information from the State Property Fund of Ukraine.
The strategic industrial complex specializes in the production of ammonia and urea, as well as the transshipment of chemical products. Organizers note that the joint goal is to restart the enterprise, attract investment, and ensure the sustainable development of the plant.
The sales conditions require the auction winner to undertake a series of clear obligations to the state and the labor collective. Specifically, the business profile must be maintained for at least five years.
Investment and social obligations
The investor must channel UAH 500 million into modernization, technical re-equipment, and capacity development. Repayment of wage arrears and budget debts is required during the first year.
Social guarantees for the staff include preventing mass layoffs and ensuring timely wage payments. Accounts payable must be restructured and gradually settled, excluding claims from sanctioned individuals or entities connected to the aggressor state.
Environmental safety and legal support
Environmental safety and strict compliance with environmental legislation and chemical production safety standards are mandatory. Within the framework of the international project EU4State Asset Reform Technical Assistance Project implemented with the support of Expertise France, leading law firm Arzinger also presented a comprehensive legal assessment for potential investors.
Organizers expressed gratitude to the plant management, partners from the EU4State Asset Reform project, and the Arzinger team for their joint work in preparing a transparent and secure auction. Participants received detailed answers on operational and technical matters directly from the plant leadership.
Photo: State Property Fund of Ukraine
Read also: Verkhovna Rada approved draft law No. 16011 on October 12 to increase privatization efficiency
