Privatization of Ust-Dunaisk port is postponed

The sale of the facility is being delayed due to errors by the State Property Fund in preparing the port for privatization.

The process of privatization of the Ust-Dunaisk port is delayed indefinitely. This decision is explained by the errors of the State Property Fund when preparing it for sale, writes Elit Expert.

As a reminder, the port of Ust-Dunaisk was acquired by the Vinnytsia company “Elixir-Ukraine” at the beginning of 2023. However, the enterprise has not yet been put into operation.

It turned out that the State Property Fund publicly declared the sale of the entire property complex, but in fact put up for sale only part of the port. Due to the fact that the Fund “sold” the enterprise undivided, the object cannot be registered to a new owner, the publication explained.

Thus, the Port of Ust-Dunaisk currently includes the Kilia terminal, the property of which is jointly owned by State Property Fund and Danube Kilia Seaport LLC and leased by the Kilia Grain Terminal (GTK) company.

Accordingly, 94% of the shares of the complex are on the balance sheet of the State Enterprise “MTP Ust-Dunaisk”, and 6% are owned by the “Danuy Kiliya Seaport”. This share was purchased at an auction back in 2007. This decision was confirmed twice by court decision. Moreover, the persons controlling it have not changed since 2007.

The second co-owner of the property complex — directly GTK — has the only stationary transshipment grain complex in the port. From May 2022 to July 2023, the company handled 200,000 tons of grain cargo and handled about 50 vessels.

GTK stated that the ownership of the company is shared, therefore, when it became known about the preparation for privatization, GTK positioned itself as a separate business with its own property. At the same time, the company emphasizes that they do not prevent privatization, but at the same time they do not want their property to be taken away.

Since, according to the company, the FSMU illegally put up for auction an object for which there is no full ownership right, GTK initiated a legal process to cancel the auction, as well as the distribution of ownership.

At the same time, the Fund put up for sale the road in the direction of the port, which belongs to USPA. However, according to the law, this infrastructure cannot be put into private hands.

Since then, “Elixir-Ukraine” intends to abandon the purchase of the port – due to the impossibility of managing the entire property complex.