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Igor Bilous: Auction on sale of OPP will probably be held in late October

SPFU tentative plans to hold an auction for the sale of the OPP at the end of October, 2016. This was announced by the Head of the State Property Fund,Igor Bilous, live on the Fifth TV channel. “Under the Prime Minister's instructions we are preparing new conditions of sale of the Odessa Port Plant, processing feedback from investors which wehad received earlier and scheduling an auction at the end of October,” - said Bilous.

He assured that the Fund is currently working on the bugs, preparing new proposals for the price and new conditions: “Do not mistake the one who does nothing. Our task is to determine the price and give it to the Cabinet for approval. Expert opinion – the plant should be worth $500 million, taking into account the debt, subtracting the debt will be total 300 million. Starting price will be discussed, in the end, this plant has its benefits and funds invested in it – even more than $500 million will be paid off. Of course, we want to sell the OPP more expensive, our task now is to create the conditions to encourage competition in the auction and thus raise the price.”

 

OPP