Sevastopol nationalizes Poroshenko's shipyard

2 March 2015 14:18
(QHA) -

The government of Sevastopol has announced the city's ownership of 12 enterprises, including Sevastopol shipyard (Sevmorzavod), which belongs to Ukrainian President Petro Poroshenko, the head of the press service of Sevastopol's legislative body, Elena Kazakova, said, Interfax reports.

The list of nationalized enterprises was placed on the official website of Sevastopol's government. Besides Sevmorzavod, the following are now owned by the region: LLC Sevmorsudoremont, LLC SPT Korabel, LLC Sevmordostroy, LLC Sevmorverf, LLC Sevmormash, LLC Yugsevmorservis, State Company Sevmorenergo, LLC Novaya Era, LLC Indermebel, LLC Sevmorremo and State Company Design Bureau of Radio Communications.

Of the 12 nationalized enterprises, 11 are Sevmorzavod and its divisions. In particular, LLC Sevmorsudoremont, according to the company's official website, repairs ships and vessels with a length of up to 280 meters. The enterprise owns two large dry docks, repair quays with a length of 650 meters. The company employs 900 people.

The only nationalized enterprise that is not connected with Sevmorzavod is the Design Bureau of Radio Communications, which produces navigation systems and radio equipment.

Ukrainian Justice Minister Pavlo Petrenko earlier estimated that Ukraine had lost 950 billion hryvnas ($80.5 billion) through Crimea’s unification with Russia, in addition to possible lost profits from Black Sea oil and gas resources.

Before winning Ukraine's election on May 25, billionaire tycoon Poroshenko said he would sell his major assets if he became president.