Ukraine's Cabinet of Ministers on August 12 approved the financial plan of state enterprise Illichivsk Maritime Merchant Port (Odesa region).

According to the press service of Ukrainian Vice Prime Minister Valeriy Voschevsky, the port's financial plan for 2015 foresees revenues of UAH 1.8 billion, net profit in the amount of UAH 487.7 million. Some UAH 783.7 million is to be paid to the national budget of Ukraine and trust funds. The port's total expenditure will stand at UAH 1.3 billion. It is not planned to raise credit funds in 2015.

According to the financial plan, the port plans to invest in its modernization. In particular, the matter concerns the arrangement of a site for the treatment of decommissioned vessels and scrap metal, the construction of three individual boiler houses and the purchase of a new tow.

"In addition to the fact that Ukraine through Illichivsk port maintains trade relations with nearly 100 countries, this enterprise also provides jobs to more than 4,000 Ukrainians. Therefore it is very important that the port should work efficiently thus strengthening our international economic relations. I also want to note that today Ukrainian ports play an important role in preparing the energy sector for the new heating season," Voschevsky said.