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578 Goverment finance

SPF sells out-of-service water power plant for USD 2mln

State Property Fund has managed to sell hydroelectric power station being out of use on the Southern Buh river

The SPF sold Migiev water power plant in Nikolaev region for UAH 52.2mln when the bid price was UAH 10mln. The Kyiv based Emza company has become a new owner of the facility that was out-of-service. There were 16 participants in the bidding session. According to the terms of the auction, the new owner has to put the facility into operations and create 6-12 working places. Emza was founded in 2002 and owns several small power plants. The assets of the power plant include administrative building, water intake pool, take-out channel, two hydro turbines and three generators.

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