Odesa Port Plant again failed to sell: what do the US elections have to do with it?
The state has once again failed to sell the Odesa Port Plant: by the deadline for accepting bids on October 18, no investor registered for the auction with a starting price of UAH 4.3 billion. Meanwhile, the mothballed enterprise, according to State Property Fund head Dmytro Natalukha, continues to cost the state approximately UAH 62 million monthly.
There is also an unexpected detail. According to Natalukha, American companies that had previously promised to participate in the bidding have in recent days asked to wait for the US elections on November 3. However, this explanation comes from the head of the SPF, not an independently established reason for the absence of bids.
According to official data from "Prozorro.Sale", the acceptance of bids ended on October 18 at 20:00. The auction was scheduled for October 19, but due to the lack of participants it received the status "Auction did not take place".
Why American investors changed their minds about buying the plant
The head of the State Property Fund, Dmytro Natalukha, commented on the privatization results on the evening of October 18.
According to him, shortly before the deadline for accepting bids, the prospects for the sale looked promising. Potential investors from the US sent letters in which they promised to take part in the auction and offer at least the starting price.
However, over the last two or three days the situation changed.
“Let’s wait until November 3,” was the phrase that, according to Natalukha, he most often heard from representatives of American companies.
Midterm elections to Congress are scheduled in the United States for November 3.
As reported by Interfax-Ukraine, the head of the SPF linked the absence of bids to political uncertainty in the United States.
Natalukha noted that investors assess investment prospects 15–20 years ahead, while the political position of a key international partner can change significantly in a short time.
In his assessment, for some potential buyers political risks turned out to be less predictable than even military ones.
At the same time, the American companies themselves have not publicly confirmed that they withdrew from participation precisely because of the upcoming elections.
UAH 62 million every month: how much does maintaining the plant cost
The absence of a buyer means that the state will have to continue financing the maintenance of the mothballed enterprise.
According to Natalukha, about UAH 62 million is currently required per month for these purposes.
If expenses remain at this level for a year, their total amount will be approximately UAH 744 million.
This is a calculation based on the monthly amount provided by the head of the SPF, not an approved annual budget of the enterprise.
The head of the fund explained that it is currently difficult to determine when the Odesa Port Plant will be able to cover at least part of its expenses on its own through cargo transshipment.
The prospects of the enterprise depend, in particular, on the safety of navigation in the Black Sea and the possibility of stable operation of port infrastructure.
Therefore, the state faces the question not only of finding a new buyer, but also of how much funds will be needed for the further maintenance of the OPP.
UAH 4.3 billion for shares and another UAH 500 million for modernization
The state package of 99.5667% of the shares of the Odesa Port Plant was put up for sale.
The starting price was UAH 4,308,275,796 excluding VAT.
At the same time, the purchase of shares implied additional obligations.
According to official privatization conditions, the future investor had to invest at least UAH 500 million in modernizing the enterprise and improving its energy efficiency.
Thus, the buyer would have had not only to pay several billion for the state stake, but also to separately finance the restoration and renewal of production facilities.
The Odesa Port Plant is located in the city of Pivdenne, Odesa Oblast. It is a large chemical enterprise specializing in the production of ammonia and urea, as well as transshipment of chemical products through a sea terminal.
During the full-scale war, the main production facilities of the plant are in conservation mode.
Why the plant has not been sold for many years
The current privatization attempt is far from the first.
In 2016, the enterprise was put up for sale twice. First, the starting price was UAH 13.175 billion, then it was reduced to UAH 5.16 billion. However, both attempts ended without result.
In November 2025, the state again tried to sell the OPP — for UAH 4.488 billion. At that time, no bids were received for the auction either.
One of the factors complicating privatization for a long time were debt disputes with companies of Dmytro Firtash's Group Ostchem.
Shortly before the current auction, the State Property Fund presented a legal analysis of the relevant obligations. As previously reported by "Kurs Ukrainy", specialists assessed the risks associated with this for a potential investor as low.
Nevertheless, the new sale attempt also failed to attract participants.
What will happen to the Odesa Port Plant now
After another failed auction, the State Property Fund will have to determine the further fate of the enterprise.
Natalukha said that the agency had previously considered backup scenarios in case the bidding failed. However, to choose the final decision, the situation needs to be further assessed.
It is not yet known when the next auction will be announced, whether the starting price will change, and whether potential American investors will return to negotiations after the November 3 elections.
Thus, the Odesa Port Plant remains in state ownership. And as long as there is no new buyer, the maintenance of the mothballed enterprise, according to the head of the SPF, continues to require about UAH 62 million every month.
Based on materials from: "Prozorro.Sale" — official result of the privatization auction, "Interfax-Ukraine" — statement by Dmytro Natalukha dated October 18, 2026, State Property Fund of Ukraine — terms of sale of the Odesa Port Plant.