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Economy 2020-07-05T04:08:17+03:00
Ukrainian news
Ukraine Promises To Privatize Odesa Port Plant, Centrenergo, President Hotel, 3 Other State Companies By July

Ukraine Promises To Privatize Odesa Port Plant, Centrenergo, President Hotel, 3 Other State Companies By July 2021 – Draft Ukraine-IMF Memorandum

IMF, Centrenergo, privatization, Odesa Port Plant, President Hotel

Ukraine has promised the International Monetary Fund (IMF) that it will privatize the Odesa port plant, a major producer of ammonia and urea in Odesa region, the Centrenergo state power generating company, the President Hotel private joint-stock company (Kyiv), and three other state companies by July 2021.

This is stated in the draft memorandum that was submitted to the International Monetary Fund’s board of directors for consideration, Ukrainian News Agency reports.

"The State Property Fund (SPF) will initiate tenders for sale of at least two major state enterprises by the end of December 2020 if market conditions permit and at least three more by the end of June 2021," the draft memorandum states.

According to the draft memorandum, the list of state enterprises that will be put up for sale includes the Odesa port plant, Centrenergo, the President Hotel, the Electrotyazhmash state enterprise (Kharkiv), the United Mining and Chemical Company, and the Krasnolimanskaya state coal company (Rodinsky, Donetsk region).

As Ukrainian News Agency earlier reported, President Volodymyr Zelenskyy has said that the State Property Fund is continuing the preparation of the Dnipro Hotel (Kyiv) and the Centrenergo state power generating company for privatization.

The board of directors of the International Monetary Fund approved a new loan program for Ukraine on June 9. The first loan tranche under the program will amount to USD 2.1 billion.

The approved text of the memorandum has not yet been made public.

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