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Russia expects $2.7 bln from privatization auctions in 2010

© Flickr / Diane M. Byrne Russia expects $2.7 bln from privatization auctions in 2010
 Russia expects $2.7 bln from privatization auctions in 2010  - Sputnik International
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The Russian government expects to receive about 77 billion rubles ($2.7 billion) from the privatization of state enterprises in 2010, a government source said on Monday.

The Russian government expects to receive about 77 billion rubles ($2.7 billion) from the privatization of state enterprises in 2010, a government source said on Monday.

"The value of the entire privatization program is about 77 billion rubles, of which 14 strategic enterprises account for 55 billion rubles [$1.9 billion]," the government source told RIA Novosti on the eve of a government meeting to discuss a draft privatization program for next year.

The government source said preparations were under way to exclude 14 joint stock companies from the list of strategic enterprises before their privatization.

The government source said that the list of 14 strategic enterprises being prepared for privatization included Russia's largest shipping company Sovcomflot, the Novorossiisk Merchant Marine Port in the northeast part of the Black Sea, the Vanino Port on the Russian Pacific coast, the Murmansk Port in northwest Russia, and the Tuapse Marine Port in the Black Sea handling large amounts of crude oil and other assets.

The government source said the government was planning to privatize a stake of 25% minus one share in Sovcomflot and 13% in Rosgosstrakh insurance company but declined to specify share packages in other state enterprises slated for privatization.

The source said that non-strategic enterprises planned for privatization next year included 449 assets, adding that a final decision on the list of privatizations would be made by the Russian president.

Analysts say the government's plans to privatize state stakes next year aim to cover the state budget deficit in 2010 predicted at 6.8% of the country's GDP.

MOSCOW, November 23 (RIA Novosti)

 

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