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Russia's government approves 1 trln rbl privatization plan for 2011-2013

© RIA Novosti . Ruslan Krivobok / Go to the mediabankRussia's government approves 1 trln rbl privatisation plan for 2011-2013
Russia's government approves 1 trln rbl privatisation plan for 2011-2013 - Sputnik International
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The Russian government has approved a privatization plan for 2011-2013, including the top ten state-owned assets, which could bring an extra 1 trillion rubles ($33 billion) to state coffers, the government said in a statement on its website on Thursday.

The Russian government has approved a privatization plan for 2011-2013, including the top ten state-owned assets, which could bring an extra 1 trillion rubles ($33 billion) to state coffers, the government said in a statement on its website on Thursday.

The list of high-profile privatizations includes the sale of state-owned stakes in oil major Rosneft (25% minus one share), RusHydro hydropower generator (7.97% minus one share), the Federal Grid Company of Unified Energy System (4.11% minus one share), the country's largest shipping company Sovcomflot (50% minus one share), top bank Sberbank (7.58% minus one share), VTB bank (35.5% minus one share), the United Grain Company (100% by 2012), Rosagroleasing agricultural leasing company (50% minus one share from 2013) and the country's rail monopoly Russian Railways (25% minus one share).

The plan also offers to sell large stakes in leading apatite concentrate producer Apatit, Prosveshchenye publishers, S7 Airlines, Arkhangelsk Trawler Fleet fishing company, the largest off-road vehicle producer UAZ, the Murmansk Marine Fishing Port, Vostochny Port and Diamond World company.

"Specific deadlines and methods of privatization of these companies will be determined proceeding from the market situation, coordination of sales with the processes of privatization of the shares of companies in the corresponding sectors and recommendations by leading investment consultants," the statement also said.

MOSCOW, December 2 (RIA Novosti)

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