The starting price of Odesa Port-Side Chemical Plant could be considerably cut at a new privatization tender to sell the plant, and this would help to attract more bidders, Head of the State Property Fund (SPF) Ihor Bilous has said.

"It was decided to considerably cut the starting price to increase the number of bidders in the tender. The price could be halved," he said at a briefing in Kyiv on Friday.

He said that this would help to attract at least three new bidders to the auction.

Bilous said that he assesses the market value of the plant at $400-450 million.

As reported, the fund announced a tender to sell 99.567% shares in the plant at the starting price of UAH 13.175 billion (around $527 million).