Inactive Plant Manager Reports Nearly 14 Million in Salary: Key Details.

Director's Financial Disclosure

According to Novyny.live: Despite the Mykolaiv Alumina Plant being idle since February 2022, its director, Oleksii Medvid, has declared an annual salary of nearly 14 million hryvnias. The facility is currently being prepared for privatization, with its sale scheduled for 2026. This situation raises questions about executive compensation at a non-operational enterprise.

Medvid's 2024 declaration lists his salary at 13,946,666 hryvnias. Additionally, his wife reported receiving 31,932 hryvnias in pension payments. The document also reveals that the couple holds 246,000 US dollars in cash.

Environmental Concerns at the Plant

The Mykolaiv Alumina Plant halted operations in early 2022 and is now in the pre-privatization phase. On its grounds, approximately 47–48 million tons of toxic red mud are stored across an area of about 400 hectares, sparking serious worries about the region's environmental safety.

The situation surrounding the Mykolaiv Alumina Plant highlights the complex state of an enterprise on the brink of privatization. The director's substantial salary, juxtaposed with the plant's inactivity, calls into question management effectiveness, especially amid growing environmental challenges.

Privatization of the plant could be a crucial step toward improving its financial stability and addressing environmental issues, but it demands a careful approach from both the state and potential investors.