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Ukrainian government plans to sell Ukrnafta and Odessa Port Plant

Ukraine's cabinet of ministers plans to sell a 50% stake in Ukrnafta and 99% of shares in the Odessa Port Plant, UNIAN reported on Friday, citing a source in the cabinet of ministers.

Under a draft resolution of the government, it is planned to endorse a list of facilities to be put for sale in 2014. The list includes stake packages in two major enterprises - Ukrnafta and the Odessa Port Plant.

Other assets on the privatization list include 99% of shares in Sumykhimproms, 75% of shares in Turboatom, blocking or controlling stakes in about 15 energy companies, about 40 packages in gas supplies and gas distribution companies, the source said, adding that the list would also include companies of a number of other sectors, such as agriculture and research.

The draft resolution is expected to be considered by the governmental committee within days, the UNIAN source said. After the list is endorsed, the government will pass individual resolutions on sales of each the enterprises on the list.

On July 10, Ukrainian Prime Minister Arseniy Yatsenyuk told the All-Ukraine Agrarian Forum that the cabinet of ministers planned to announce "the biggest privatization campaign in the past 20 years."

Meanwhile, Ukrainian Minister of Energy and Coal Industry Yuri Prodan said that privatization of the country's gas transport system and the company Ukrenergo was absolutely excluded, although other state-run energy-sector companies could be put on sale.

[Source: Itar Tass, Kiev, 12Jul14]

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