Ukraine to sell Odessa fert plant in May

20 February 2008 11:42  [Source: ICIS news]

MOSCOW (ICIS news)--Ukraine's State Property Fund plans to hold an auction for a 99.52% stake in fertilizer producer Odessa Port Plant at an initial price of hryvnya (HRN) 3bn ($595m/€404m), the privatisation agency said on Wednesday.

The auction is due to be held on 5 May, 2008, the agency added.

The Ukrainian government approved terms of the plant's privatisation on 30 January after the fund renewed plans to hold an auction for a 99.52% stake in the plant in June 2007.

Odessa Port Plant is Ukraine's second largest ammonia producer with a capacity of 1.5m tonnes/year. Exports of urea and ammonia accounted for 88% of output in 2007.

In 2007, Odessa Port Plant's net profits reached HRN309m, according to the company.

Ukraine first announced plans to privatise a stake in Odessa Port Plant in 2004.

($1 = HRN5.05/€1 = HRN7.42)

By: Sergei Blagov
+44 20 8652 3214

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