Home / EMEA / Russian PM hopes 2014-2016 privatization plan to be fulfilled

Russian PM hopes 2014-2016 privatization plan to be fulfilled

The Russian government hopes to fully complete the 2014-2016 privatization plan, but this will largely depend on the market situation, declared Prime Minister Dmitry Medvedev.

“I hope that these plans will be fulfilled, but with the current economic situation taken into account,” he said.

According to the privatization plans approved in 2013, the government will sell stakes in telecom operator Rostelecom, state-owned shipping company Sovcomflot, United Grain Company and Novorossiysk Commercial Sea Port (NCSP) in 2014–2016.

According to Dergunova, the privatization of 5% in Russian Railways will not begin until the company receives National Wealth Fund subsidies on Trans-Siberian Railway development.

“We have discussed Russian Railways privatization at the meeting and the decisions on the company’s development and Trans-Siberian Railway development, which we have already made, imply that first the National Wealth Fund will make all necessary investments, Russian Railways will issue additional shares which will allow to conduct this strategic policy, and then we will begin to move towards the deal on a possible 5% stake placement,” she said.

The state property management agency earlier planned to sell 5% in Russian Railways by the end of 2015 and 20% more by the end of 2015. The executives of the railway company previously stated that the privatization is impossible before 2018.

Source* rzd-partner.com

Check Also


Istanbul to announce tenders for monorail, metro and tram projects

Istanbul Metropolitan Municipality (İMM) plans to soon initiate three important rail infrastructure development projects to address the city’s heavy road traffic levels.  …

Leave a Reply

Your email address will not be published. Required fields are marked *