The plant which Poroshenko owned does not repay the loan issued under state guarantees. The people of Ukraine are paying it off

The Kyiv shipyard Kuznya on Rybalsky (formerly Leninskaya Kuznitsa), which belonged to former President Petro Poroshenko, took out a loan of UAH 528.98 million under state guarantees, and does not pay it off.

According to the agreement, back in 2017, the loan funds were provided by the state-owned Ukreximbank to increase the state's defense capability.

The company had money: in 2017, its profit increased 2.2 times (by UAH 10.123 million), and reached 18.621 million. The total income then grew at a faster pace - 6.6 times (by UAH 658.1 million), to UAH 776.2 million.

In August 2017, Kuznya on Rybalsky transferred part of the capacities to its subsidiary Stroy-Renovatsiya. According to the state register of legal entities, the founder of Stroy-Renovatsiya is the same plant Kuznya on Rybalsky, and its ultimate beneficiaries are Poroshenko and MP Igor Kononenko.

In July 2020, the Ministry of Finance, as a guarantor for the loan, paid Ukreximbank UAH 101.77 million. UAH 81.38 million was the payment on the body of the loan for January-May this year, and another UAH 19.85 million - interest for January-April, as well as UAH 539 thousand - a penalty.

At the end of March 2017, the shareholders of the Leninskaya Kuznitsa shipyard renamed the enterprise into Kuznya on Rybalsky Plant and changed the form of ownership to a private joint-stock company (PJSC).

It is known that 49% of the company's shares belonged to the closed non-diversified corporate investment fund Prime Asset Capital (Kyiv), which was indirectly owned by Petro Poroshenko. And another 49% of the shares were controlled by Igor Kononenko through closed non-diversified corporate investment fund Vik.

In October 2018, Evins Limited (Cyprus), which affiliated with businessman Sergei Tigipko, bought 94.03% of the shares of the Kuznya on Rybalsky shipyard.

The Kuznya on Rybalsky shipyard specializes in the production of chemical tankers, dry cargo vessels, container ships, fishing freezer trawlers, special-purpose vessels, boiler units, and ship repair.

Andrey Pshenichnyi for