Shuvalov presents large-scale privatization plan to Kremlin
MOSCOW. Aug 3 (Interfax) - First Deputy Prime Minister Igor Shuvalov has presented Russian President Dmitry Medvedev with proposals for the privatization of several state assets, Shuvalov's office told Interfax.
The authors of the report say it is advisable to privatize Sovcomflot, Sheremetyevo Airport, Inter RAO and VTB in their entirety by 2017.
RusHydro and Rosneft should start being privatized in 2012, using the golden share mechanism.
Zarubezhneft will be privatized as the result of talks related to international treaties to which the oil company is a party, using the golden share mechanism.
Rosselkhozbank and Rosagroleasing will be sold on the basis of an analysis of the companies' functions and whether the functions for allocating government support can be transferred to another organization with a different form of ownership.
United Grain Company will be privatized using the golden share method.
Alrosa will be privatized using the golden share method with the possibility of the proceeds being used to funds projects in the republic of Yakutia.
OJSC Aeroflot-Russian Airlines is among the companies where retaining the designation of "national carrier" would be feasible.
In addition, the government proposes reducing the state stakes to controlling packets (50% plus one share) in OJSC United Shipbuilding Corporation and OJSC United Aircraft Corporation.
The report also proposes to reduce the state stakes to 75% plus one share in OJSC Scientific and Production Corporation Uralvagonzavod, OJSC Russian Railways OJSC Federal Grid Company and OJSC Transneft , starting from 2012.
The government also proposes the sale of subsidiary grid companies that are part of OJSC IDGC Holding, starting from 2012, with a preliminary plan to boost their investment attractiveness, as well as prepare a schedule for their sale with proceeds either going into the federal budget (through dividends) or to the subsidiaries themselves for the purposes of raising their investment attractiveness.
The decision to privatize shares, as learned from the reorganization of OJSC Svyazinvest and OJSC Rostelecom , should be made with consideration of securing grid accessibility for state needs, which could be realized by utilizing a gold share.
In addition, in accordance with OJSC Rosnano's proposals, up to 10% in the company has been proposed for privatization in 2012, partially for the purposes of bringing a strategic investor.