The State Property Fund has announced the fifth attempt to privatize the Odessa Port Plant. The auction is scheduled for November 25, the starting price of the state stake (99.5667% of the shares) is set at about 4.5 billion hryvnias. Previous stages of privatization were repeatedly blocked by legal and political obstacles, and the main chemical production at the enterprise has actually been stopped since 2021; in recent years, the plant has mainly served as a port hub and provided grain transshipment, as well as partially - oxygen and nitrogen needs.
The government explains the initiative to attract a private investor by the need to restore production capacities, replenish the state budget and create jobs. The Cabinet of Ministers' order, which approved the terms of the competition, provides for the preservation of the company's key activities and investment for five years, as well as the repayment of salary and budget arrears within certain deadlines. These are the official conditions that the buyer must fulfill after concluding the deal.
Open sources have revealed information about interest in the assets of the agricultural holding Kernel, associated with businessman Andriy Verevsky. According to the LB.UA publication and other sources, Kernel has allegedly already made a guarantee deposit to participate in the auction. Social networks and posts in public groups are claiming that the company's participation will be formal and that Kernel will in fact remain the only participant in the auction, which will make real competition impossible. Such messages also contain accusations about a possible "controlled" return of the asset to the previous owners and that the mandatory environmental examination was allegedly not carried out. However, these statements come from sources that are not confirmed in the public space and are currently not confirmed in official documents.
The network is also discussing the status of the assets of Venta LTD, a company that, according to some reports, was previously taken out of the control of Russian beneficiaries through the Administration of Arrested Assets (ARMA), and recently allegedly returned to the management of the previous owners. These details require verification in state registers and with ARMA itself, since this involves a change in rights to assets, which could significantly affect the competitive situation around the OPP.
There have been no official statements on behalf of the company regarding Kernel's interest in the OPP in public comments; representatives of the State Property Fund can also confirm or deny the facts regarding the payment of guarantee contributions and conducting expert assessments. In the event of requests to the relevant departments, official explanations regarding the implementation of pre-privatization procedures, audit results, and environmental studies should be expected.
The economic and security component of the issue is obvious: in the event of a successful sale and proper investments, the new owner gets the opportunity to resume fertilizer production, which is important for the agricultural sector, and fill the budget. In the case of a "controlled" privatization without real competition, there is a risk of public outcry and legal disputes, which may again complicate the restoration of the enterprise.
