The Cabinet of Ministers decided to put the Odesa port plant up for sale at an open electronic auction for UAH 4.5 billion (approximately $100 million). This was reported by the head of the government Yulia Svyrydenko.
“OPZ is one of the largest chemical complexes of Ukraine. Before the war, he produced ammonia and urea, exported fertilizers. But from 2022, the main production is stopped. The plant worked partially – it provided critical needs with oxygen and nitrogen, performed the functions of a port hub. The enterprise must resume full-fledged work. This is possible only through the involvement of a private owner and investments, – said Svyridenko.
Recall that Ukraine has been trying to sell OPZ for many years. In 2009, the Nortima company, associated with the Privat group, won a tender for the privatization of 99.567% of the plant’s shares, offering UAH 5 billion ($625 million). Other contenders included Azot-Service, affiliated with the Russian Sybur, and Frunze-Flora. Konstantin Hrygoryshyn. However, the results of the auction were canceled due to suspicions of a conspiracy.
In 2012, the then head of the State Property Fund Oleksandr Ryabchenko predicted that the privatization of OPZ could bring 5–7 billion UAH ($625–875 million), depending on the conditions of the competition. In 2015, his successor Ihor Bilous stated that he expected at least $500 million from the sale of the plant, while Prime Minister Arseniy Yatsenyuk called the cost $1 billion.
The last privatization attempt took place in 2016: OPZ was initially offered for UAH 13.175 billion ($530 million), and later the price was lowered to UAH 5.16 billion ($200 million). However, not a single application from investors was received, although about ten potential buyers showed interest in the plant, and four were even preparing a package of documents.
Among those interested then were “ Ukrnaftoburinnia” (at that time associated with Igor Kolomoisky and Vitaly Khomutynnik), Oleksandr Yaroslavsky’s Glenshee Holdings, Alex Rovt’s American IBE Trade and Sheikh Suhail Salim Bahvan’s Amjad Investment company.
