Russia to privatize 900 state enterprises by 2015

16:23, October 21, 2010      

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A total of 900 state-owned Russian enterprises would complete the process of privatization by 2015, said First Deputy Prime Minister Igor Shuvalov late Wednesday.

The Russian government has approved a privatization plan for the next five years of those enterprises from the sectors of aviation, energy, agriculture, banking, transportation, telecommunications, among others, said Shuvalov.

The plan has thus been submitted to President Dmitry Medvedev for approval. All the enterprises included in the list shall also finish drafting the implementing plan by the end of November, said Shuvalov.

The RIA Novosti news agency reported Thursday that for the first time in history, the Russian government has offered the sales of a quarter of Russian Railways monopoly in 2013-2015, and a 50 percent minus one share of Russia's largest shipping company Sovcomflot, in 2011-2013.

Other renowned companies included Rosneft, Aeroflot, RusHydro and VTB.

This has been the third time for the Russian government to announce privatization plans since last fall, each of which bigger in scale than its previous one.

Russian media has dubbed the plan as the second privatization of Russia, which aimed at reinvigorating state-owned companies and restructuring market architecture.

Source: Xinhua


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