World Economy

Ukraine Seeks Investors for OPZ

Ukraine Seeks Investors  for OPZUkraine Seeks Investors  for OPZ

Ukraine, drained by a two-year pro-Russian insurgency in its eastern regions, is seeking investors for a majority stake in Odesky Pryportovy Zavod, the country’s biggest ammonia factory, in an effort to fill its dwindling coffers, Bloomberg reported. The government is expecting bids for a 99.567% stake in the plant, known as OPZ, with a starting price of 13.2 billion hryvnia ($532 million) in Kiev on July 18, according to the State Property Fund, which manages state asset sales. This is the second attempt to sell the factory since 2009. It employs about 3,800 workers and had output of 1.1 million tons of ammonia and 950,000 tons of urea in 2015. Bottom of Form State enterprises generated a cumulative loss of more than $4 billion in 2014 as the government expects to get $12 billion in international aid this year to help boost economic growth and exports and stabilize the national currency.