in the State Property Fund (FGI) yesterday announced that the Odesa Port Works has already claimed 10 companies that will increase the value of the asset up to $ 900 million

FGI gives additional confidence that the contest will participate in the Russian company that can provide a gas at an affordable price.

However, experts do not share the optimism FGI. They call the conditions under which the agency put the factory up for sale, and difficult to say that the price of the asset is unlikely to exceed $ 600 million

I. about. MFI chairman Dmitry Parfenenko yesterday reported that the required package of documents for participation in the competition for privatization of AEs asked 10 companies. He also said that the MFI does not publish information on companies, because they are all opposed to the disclosure of their names.

According Parfenenko, the highest chances of winning companies that are able to supply a gas to economically sound price, because of the high cost of the basic raw material - natural gas - the plant this year became unprofitable.

It should be noted that interest in the competition have shown us from Russia and Georgia. According to Dmitry Parfenenko, the presence of Russian investors, suggests that the MFI will receive shares of the company up to 7 billion UAH (about $ 900 million).

Odessa Port Plant (IPF) - a major producer of nitrogen fertilizers - holds a monopoly in the market for transportation of ammonia. It is located near the southern port, which exported most of the produced nitrogen fertilizers in Ukraine. About 90% of factory produced products are exported. Net loss for the AEs I amounted to half of UAH 38.26 million, while the same period in 2008, the company completed with net profit of 348.89 million UAH. The State owns 99.567% of the shares in IPFs.

Recall, Ukraine is trying to privatize the IPF in 1994. Sale was not held until now because of the differences and the President of the Cabinet. Last MFI announced a competition for the sale of the plant on July 15. It must take place no earlier than September 29. Starting price 99.567% of shares - 4 billion UAH.

potential buyer is obliged to maintain the existing economic activities IPF, to pay into the state budget 35% of net profit for 2009, and in the years 2010-2014 to modernize a number of units in the main factory shops.

Parfenenko previously stated that the AEs of interest Sibur, Eurochem, Yara International, as well as the structure of the group Privat and businessman Alexander Yaroslavl.

As the source of Investment, consulting one of the Russian participants of the competition, the application to obtain information about the company and the conditions of competition brought the Russian Sibur, Akron, Eurochem, Norwegian Yara International, Ukrainian JSC Azot (Cherkasy ), JSC Ukrinvest, OAO Dniproazot and OJSC Ukrnafta: Two other participants, we do not know, but indirect indications suggest that the Libyan National Oil Company and the IBE Trade (United States).

According to him, the competition just would not take part of businessmen Dmitry Firtash and Konstantin Zhevago who were interested in the IPF in 2008. Sources in the environment and gentlemen Firtash Zhevago confirmed this information.

Analyst

IC Troika Dialog Ukraine Peter Keller believes that, despite the large number of participants, MFI is unlikely to receive from the sale of AEs more than $ 450-500 million and in the opinion of Dmitry Horoshuna of IR Socrates, the price will not exceed $ 600 million The Government has put forward many demands, potentially impeding the sale.

In particular, the minimum level of earnings, which will be very difficult to achieve in the cycling sector, as the chemical industry. Therefore, the price may not be as high as projected head FGI - agrees analyst Renaissance Capital Marina Alekseenkova. She recalled that in terms of privatization proceeds FGI IPFs for the first year after the sale must be at least 2.34 billion UAH for the second - UAH 2.51 billion, the third - UAH 2.68 billion, for the fourth - UAH 2.85 billion and the fifth - 3.02 billion UAH.

Russian companies will not be able to AEs gas at a price below that at which it sells Naftogaz Russian Gazprom, said Head of analytical department of the IR Brokerkreditservis Maxim Shein. In Russia operates a monopoly on natural gas exports, and no company except Gazpromeksporta is unable to deliver it overseas.

Russian chemical companies are unlikely to get an advantage in the price of gas, as evidenced by the head of MFI, - he said. A member of the Verkhovna Rada Committee on Fuel and Energy Complex Sergey Tulub sure that a real opportunity to supply gas to the IPF at low cost is only one participant - JSC Ukrnafta. financial director Vladimir Pustovarov yesterday declined to comment on plans for his company on the IPF, calling them trade secrets .

Oleg Havrysh, Alexander Chernovalov