15:36 05.02.2016

Cabinet prior to privatization of Odesa port-side plant should decide on $190 mln debt to Firtash – SPF

1 min read
Cabinet prior to privatization of Odesa port-side plant should decide on $190 mln debt to Firtash – SPF

Prior to the privatization of Odesa port-side chemical plant the Cabinet of Ministers should decide the fate of the company's debt of $190 million to businessman Dmytro Firtash, Head of the State Property Fund (SPF) Ihor Bilous has said after a meeting with the members of the working group on privatization.

"The government should weigh all the risks, taking into account the state of the market and decide whether to ignore this debt or try to carry out its restructuring," the head of the privatization agency wrote in his blog on Facebook.

Bilous also urged the Cabinet as soon as possible to approve the financial plan of the plant, without which it is impossible to audit the enterprise.

As reported, the working group on preparing recommendations and suggestions to the draft resolutions of the Cabinet regarding the privatization and conditions of the sale of state owned objects that are to be privatized was established in July 2015.

Representatives of the EBRD, USAID, Ernst & Young also attended a meeting of the group held on February 4.

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