The State Property Fund has announced the initial cost of 99.52% of the Odesa Port Works, which is 1.444 bn. UAH (285.98 million USD).
This is more than twofold less of the cost estimated by branch analysts. According to them, the market cost of 99.52% of shares of the Works is 700 - 800 million USD, as the Works encloses the ammonia pipeline Togliatti - Horlovka - Odesa and exports huge parcels of chemicals via Ukraine.
Earlier, the SPF estimated the Works at 1.5 - 2 bn. UAH. The SPF believes the cost is an initial one and shares might become more expensive.
In April the Cabinet of Ministers approved the 100% sale of the Works, of which 0.5% shares will be sold to the Works' personnel at favourable price and the rest of the shares will be sold in one parcel at an auction.
Four companies applied for participation in the enterprise's privatization: UkrNafta, Stirol Concern, Azot (Cherkasy) and the IBE Trade Corporation.
The Odesa Port Works is the third biggest enterprise in Ukraine in production of nitrogen fertilizers (14-18%) and the second biggest in ammonia production (22-24%).
