The auction for the sale of JSC Odesa Port Plant did not take place as no participants registered.
The State Property Fund of Ukraine (SPFU) reported this.
“On Tuesday, November 25, an auction for the privatization of JSC ‘Odesa Port Plant’ with a starting price of 4.49 billion UAH was scheduled in the Prozorro.Sales system. Due to the absence of registered participants, the auction was declared invalid,” the statement said.
The SPFU noted that the privatization conditions for this asset were challenging from the start, as the enterprise requires significant investment and specialized expertise. Specifically, the investment obligations for potential investors include maintaining the company’s core activities, investing at least 500 million UAH in modernization and production development, repaying wage and budget arrears within 12 months (over 366.8 million UAH as of the end of June 2025), gradually clearing overdue creditor debts, and complying with environmental and social standards.
While there is market interest in the enterprise, international partners emphasized the need for additional time and adjustments to certain conditions to allow full participation. Work is currently underway with all interested parties to create a more balanced and attractive set of terms.
To increase the chances of selling large assets at market value, the Ministry of Economy supported a draft law allowing major privatization objects to be offered with a phased reduction in starting price. This aims to prevent situations where an asset receives no bids due to an excessively high starting price and the associated financial burden.
