Russia’s largest state-owned shipping company Sovcomflot will be the first asset the government may privatize in the spring, an Economics Ministry official said on Thursday.
“The first asset to be sold will probably be Sovcomflot because the company was ready for privatization already last year,” Alexei Uvarov, director of the ministry’s property department, said at the Russia 2012 investment forum organized by Sberbank and Troika Dialog investment firm.
The government may also sell the transportation company SG Trans, the Vanino maritime merchant port on the Russian Pacific Coast and Siberia airline in spring, he said.
The Russian government approved in late 2010 an ambitious privatization program for 2011-2013, including the top ten state-owned assets, in a move to bring an extra 1 trillion rubles ($33 billion) to state coffers, but later had to postpone its plans due to the unfavorable market situation.
The list of high-profile privatizations included the sale of state-owned stakes in oil major Rosneft (25 percent minus one share), RusHydro hydropower generator (7.97 percent minus one share), the Federal Grid Company of Unified Energy System (4.11 percent minus one share), the country's largest shipping company Sovcomflot (50 percent minus one share), top bank Sberbank (7.58 percent minus one share), VTB bank (35.5 percent minus one share), the United Grain Company (100 percent by 2012), Rosagroleasing agricultural leasing company (50 percent minus one share from 2013) and the country's rail monopoly Russian Railways (25 percent minus one share).
