You're reading: Odesa Port-Side Plant decides to suspend operations

Public joint-stock company Odesa Port-Side Plant will suspend its operations, the company’s press service has reported.

“Due to the high price of natural gas supplied by Naftogaz Ukrainy which is not in line with the prices of the plant’s products on the global market and taking into account the impossibility of supplying natural gas by Naftogaz Ukrainy in 2017 until the current debt is paid, it was decided to temporarily halt production and the plant’s workshops,” the plant said on its website.

The press service said that now the plant’s managers are looking for companies interested in leasing the property of the plant for a long period.

Earlier Head of Odesa Port-Side Plant Valeriy Horbatko resigned from the post.

The plant’s debt to Naftogaz Ukrainy exceeds Hr 1 billion.

The company produces chemical products and transships ammonia to vessels.