Cabinet approves privatization terms for Odesa Portside Plant: starting price set at UAH 4.49 bln

The Cabinet of Ministers has approved the terms for selling 99.5667% of the shares in PJSC Odesa Portside Plant (OPP) at an electronic auction. The corresponding resolution was adopted at a government meeting on August 26, the Ministry of Economy reported.

Odesa Portside Plant is one of the key assets of Ukraine’s large-scale privatization program. In December 2024, the government began preparing the state-owned stake for sale.

The starting price has been set at UAH 4.49 billion, excluding additional obligations that may affect the real asset value.

Key terms of the OPP privatization include:

• preserving the company’s core business activities for at least 5 years;

• investing at least UAH 500 million over 5 years;

• clearing wage and tax arrears within 1 year;

• repaying overdue accounts payable within 5 years (excluding debts owed to sanctioned entities or creditors linked to russian and belarusian citizens/residents);

• ensuring social guarantees for employees;

• complying with environmental legislation.

The State Property Fund will report annually to the Cabinet of Ministers on whether the buyer meets the purchase agreement terms.

According to the government, the privatization will enable the restart of the plant, which has been idle since September 2021 due to gas supply issues and unfavourable market conditions. In April 2022, the facility was mothballed, and employees were placed on indefinite leave.

“Among the government’s priorities are large-scale privatization and ensuring effective management of state assets to transform them into economic value for the country. The sale of such a major asset as OPP is an opportunity to restore its operations, create new jobs, and attract funds to the state budget,” said Daria Marchak, Deputy Minister of Economy, Environment, and Agriculture of Ukraine.