OREANDA-NEWS. May 20, 2010. On May 19, the Ministry of Fuel and Energy of Ukraine disclosed a list of investment projects in the FEC area, which is planned to implement in the nearest future. In particular, the Ministry intends to raise USD 6.3bn for the reconstruction of Burshtynska (Zakhidenergo <ZAEN UK HOLD>), Trypilska (Tsentrenergo <CEEN UK BUY>), Zaporizka, Prydniprovska (Dniproenergo <DNEN UK U/R>), Slavianska, and Starobeshevska (Donbasenergo <DOEN UK U/R>) Thermal Power Stations. Moreover, Ukraine is looking for investors willing to invest USD 2.6bn in the construction of a terminal for handling liquefied natural gas.

Millennium Capital sees this news as positive. Given the high investment attractiveness of GenCos, Millennium Capital believes that it will not be difficult for the State to raise the necessary funds, especially in the case of a possible future privatization of the power generating facilities. It is also worth noting that several largest Ukrainian fertilizer producers, such as Stirol Concern <STIR UK SELL> and Odessa Portside Plant have stated their interest in the construction of the liquefied natural gas handling terminal.