Norway's Yara has applied for tender documents in Ukrainian privatisation. Brave western chemical companies are keen to enter fast-expanding eastern markets even if they are volatile. Yara is teaming up with the Libyan Government!
According to chemie.de, "Yara International ASA has, through a subsidiary, applied to the State Property Fund of Ukraine (SPFU) for receiving the documents for the tender announced by SPFU for the privatisation of Odessa Port Plant (OPP) to be held on September 29.
Yara has filed this application as a member of a consortium also comprising Kulczyk Holding S.A., representing a privately owned investment group, and the Libyan Investment Authority (LIA), an investment fund being 100% owned by the Libyan Government. The filing is only to pre-qualify the consortium for a possible participation in the tender and implies no binding obligations on any of the parties to the consortium. Should the consortium decide to participate in the tender, Yara will hold a minority position in the possible buyer of OPP.
OPP owns and operates two ammonia and two urea plants in Yuchny, Ukraine, with combined annual capacities of approx. 1.1 million tonnes of ammonia and 0.9 million tonnes of urea. In addition OPP owns and operates a major terminal for ammonia and urea, exporting products produced by other Ukrainian plants as well as by some Russian plants.