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. Last Updated: 07/27/2016

Odessa Chemicals Plant Seeks Bids

KIEV -- Up to eight bidders, including companies from Ukraine, Russia and Canada, are likely to take part in the sell-off of Ukraine's leading chemical producer, the head of the country's privatization authority said.

The Odessa Pre-Port plant will be sold off on Oct. 30 and officials have said the starting price of 2.5 billion hryvnas ($500 million) is likely to be exceeded.

"I believe we will have seven or eight companies taking part. Five have already expressed interest," Valentyna Semenyuk, head of the Ukrainian State Property Fund, told reporters Thursday.

"These firms are Russian and Ukrainian and I believe there will also be Canadians."

The fund's press service said documentation to take part had already been provided to Russian firms Yevrokhim and Akron and Ukrainian companies Azot, Dneprazot and Chernihivske Khimvolokno.

Under conditions for the sale, bidders must invest 1.2 billion hryvnas ($238 million) in the plant over the next five years.