Ukraine’s Cabinet of Ministers has decided on the two-year restructuring of a debt of public joint-stock company Odesa Port-Side Plant to national joint-stock company Naftogaz Ukrainy.
The decision was made at a meeting in Kyiv on Dec. 28.
“The adoption of the draft resolution would provide for restructuring of the debt to Naftogaz: starting from April 1, 2017 the plant will start paying it in equal parts during two years without any interest accrued,” Head of the State Property Fund of Ukraine Ihor Bilous said, presenting the draft resolution.
As reported, Odesa Port-Side Plant last week increased its debt to Naftogaz Ukrainy for gas consumed by 91 percent or Hr 479.357 million, to Hr 1.004 billion.
Naftogaz anticipates that the plant’s debt could reach Hr 1.5 billion by the end of 2016.
Since making the decision to instruct Naftogaz Ukrainy to fulfill special liabilities on gas supply to the plant the consumer has sent only Hr 5 million to the holding.
