The Russian government could privatize up to 6 percent of state-owned oil giant Rosneft and 5 percent of rail monopoly Russian Railways (RZD) next year© RIA Novosti. Alexey Nikolskiy
The Russian government could privatize up to 6 percent of state-owned oil giant Rosneft and 5 percent of rail monopoly Russian Railways (RZD) next year© RIA Novosti.
MOSCOW, October 25 (RIA Novosti)
The Russian government could privatize up to 6 percent of state-owned oil giant Rosneft and 5 percent of rail monopoly Russian Railways (RZD) next year, Economic Development Minister Andrei Belousov said on Thursday.
“In 2013 we plan to carry out not less than eight major privatizations, principally Sovcomflot [shipping company], VTB [bank], Alrosa [diamond monopoly] , Rosneft (up to 6 percent stake), the Arkhangelsk Trawler Fleet, TGK-5 [power generator], Sibir [airline], Mosenergstroi [energy infrastructure], to earn up to 260-270 billion ($8.38-8.70 billion) rubles,” he said.
The most significant privatization would be Sovcomflot’s IPO, he said.
The government has also come to an agreement about privatization of Russian Railways, and the remaining state-held stakes in United Grain Company and Rosagrolising, an agricultural equipment leasing firm.
The government has also started work on privatization of its stakes in Aeroflot, Russia’s biggest airline, as well as agricultural bank Rosselkhozbank, Sheremetyevo airport, RusHydro (hydro-electric power generator) and several other companies, he said, which could bring in another 500 billion rubles.
Extensive consultation remains to be completed with the relevant ministries and investment consultants, he said
First Deputy Prime Minister Igor Shuvalov has previously said the government intends to raise over 200 billion rubles in 2012 from privatization, and more than that next year.
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News that Moscow Mayor Sergei Sobyanin would resign in order to run for the mayoral election in September came as quite a shock. Sobyanin’s political potential is fairly dubious, not to mention his approval ratings. He has not finished many of the projects he initiated and the electoral effect from these projects is expected to come a bit later than September 2013. Sobyanin’s opponents were not entirely unprepared for this blitzkrieg.