The State Property Fund of Ukraine intends to find new owners for state enterprises that are under constant threat of Russian shelling. The priority will be to attract strategic investors with a reliable international reputation and strong state status, capable of ensuring the safety of the assets and enhancing their resilience.
This is reported by Business • Media
High-Risk Assets: Who is Being Sought Among Investors
The head of the SPFU, Dmytro Natalukha, emphasized that particular attention is needed for facilities such as the Odesa Portside Plant (OPZ) and the Mykolaiv Alumina Plant. They are located in areas of heightened military danger, which significantly affects their investment attractiveness. According to him, even the financial obligations of OPZ – specifically, a debt of over 193 million dollars to Ostchem – do not cause potential buyers as much concern as the risk of shelling due to the plant’s location in Odesa region.
“The sale of OPZ for the restoration of fertilizer production is a matter of who can afford to pay a high price for gas or gas transportation,” said Natalukha.
A similar situation is observed regarding the Mykolaiv Alumina Plant. Natalukha believes that such facilities may attract interest from investors from countries with significant international influence, such as the USA or India. He noted that the state is ready to sell the assets even at a lower price, but expects that integration into global supply chains will allow Ukraine to gain long-term benefits.
Investment Council and New Approaches to Privatization
At the moment, there is no established pool of interested investors. However, by the end of February, the SPFU management plans to create an investment council within the fund. Its members may include representatives from leading international financial institutions, such as the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), the U.S. International Development Finance Corporation (DFC), as well as Ukrainian business associations. This step aims to enhance the transparency of the investment attraction process and ensure effective protection of state interests in the challenging conditions of wartime.