Ukrainian Government Puts One of the Country’s Largest Chemical Plants Up for Sale: Odessa port plant in Privatization List
The Ukrainian government has made a significant decision regarding the privatization of a strategic asset — the Odessa Port Plant (OPZ), recognized as one of the country’s largest and most important chemical manufacturing enterprises.
During its session on August 26, the Cabinet of Ministers approved the terms for selling this facility via an open electronic auction, offering any interested investor the chance to participate.
The starting price for the lot is set at 4.5 billion hryvnias, highlighting the enterprise’s importance and potential for Ukraine’s economy.
Before the full-scale war, the plant was actively producing ammonia and urea, primarily exporting mineral fertilizers abroad.
However, since 2022, the facility’s operations have been significantly curtailed — production has been halted, and the plant now operates only partially, mainly supplying critical needs in oxygen and nitrogen, and functioning as a port hub for chemical cargo transshipment.
Minister of Economy Yulia Sviridenko emphasized that restoring the plant’s full operation is feasible mainly with the involvement of private investors, as privatization will generate additional revenue for the state budget, create new jobs, and support Ukrainian agriculture by providing domestic mineral fertilizers.
It is also important to recall that as early as September 2021, the plant was completely shut down due to soaring gas prices, which are the primary raw material for production and posed financial challenges for the enterprise.
Future prospects for Ukraine’s economy after the war include discussions on transitioning from resource reliance to economic growth — from the “resource curse” to an economic miracle, with privatization of large enterprises acting as a possible catalyst for this transformation.