Loss of Odessa Shiprepair Yard "UKRAINA" amounted over January-September 2006 to 8 million hryvnas (about $1.6 million). It was announced by Ukrainian Minister of Transport and Communications Nickolai Rudkovsky, the Ministry’s press center of reports according to IA REGNUM. Rudkovsky says the loss has doubled against year-on-year result. It is the largest loss in the industry. This year, loss-making enterprises in Ukraine include 2 commercial seaports of Odessa region (both of them profitable in 2005): Reni port (3 million hryvnas of loss, or about $600 thou) and Ust-Danube port (3.3 million hryvnas of loss, or about $660 thou). Total amount of loss-making enterprises in the country include 16 transport and communication companies.
Early in October Ukrainian Minister of Transport and Communications signed a decree on integration of Odessa Commercial Seaport (OCS) and UKRAINA Shiprepair Yard. According to Alexander Golokoz, head of regional administration of marine complex, transport and communications, first of all it means large-scale costs for OCS. UKRAINA has not paid its personnel for 5 months while the company’s accounts payable amount to millions hryvnas. Besides, profound modernization of the production facilities has been planned by the company. Annex 12 to the Law on State Budget – 2007 implies sale of the plant. The yard is included in the list of state enterprises not subjected to privatization (adopted in 1999).