Cabinet approves privatization of Odesa port-side plant, seaports, Sumykhimprom, Centrenergo in 2015

The Ukrainian government has included PJSC Odesa port-side chemical plant (with a state stake of 99.567%), Sumykhimprom (99.995%), Centrenergo (78.29%) and all other remaining state stakes in thermal generation companies and regional energy supply companies in the list of companies to be privatized in 2015.

According to Cabinet resolution No. 271 of May 12 on conducting transparent and competitive privatization in 2015, which has been posted on the government's website, the list also includes state-owned coal enterprises and mines, Ukrtorf concern, Elektronmash, President-Hotel and seaports, however the Verkhovna Rada's permission needs to be obtained for the sale of maritime ports.

"The State Property Fund is instructed in 2015 to provide putting the objects up for sale using the main method of sales – an auction with open bidding without setting limits for admission of participants, except as required by law, and taking into account the sanctions imposed," reads the resolution.

In addition, the government instructed the Economic Development and Trade Ministry and the State Property Fund, where appropriate, to carry out a road show involving advisers.

The approved list of objects for privatization includes a total of 286 objects of all groups. In addition, another 43 facilities are currently included in the list of objects that cannot be privatized, therefore a decision of the Verkhovna Rada is required for their sale.

As reported, the president and the prime minister of Ukraine on May 13-14 will visit France and Germany, having repeatedly urged EU investors to participate in privatization in Ukraine.