Sale of 25% in RZD would be worth 260 bln rubles to Russia, but might not help things - Yakunin
ST. PETERSBURG. June 22 (Interfax) - The privatization of a blocking share interest in OJSC Russian Railways (RZD) would not help in the resolution of company investment-project resource problems, and would create for the government new difficulties, RZD President Vladimir Yakunin said.
"Imagine, we have an investment deficit today of 400 billion rubles until 2015, and before 2020 the investment deficit will be more than one trillion rubles. If with the current state of the market, and with the idea of selling 25% of RZD, for example, we would get 260 billion rubles, Yakunin said in an interview with Interfax.
"It follows that the government will get what is necessary, and the question for us ourselves will be, what will we acquire as a result? The answer is that in this composition we'll not get anything, other than the annual pain. Why? Because today the building of Sochi facilities is being done by the scheme of increasing RZD charter capital, and with just the appearance of minority partners, this scheme cannot be used. Per this scheme are being implemented Asian-Pacific Region projects and projects in Tatarstan," Yakunin said.
The updated privatization plan approved by the government early this month involves the sale by 2016 in RZD of 25% minus one share.