29 Sep 2010 16:25

Sale of Russian govt stake in Novorossiysk seaport slated for Q1 2011

MOSCOW. Sept 29 (Interfax) - An auction offering the Russian government's 20% stake in OJSC Novorossiysk Commercial Sea Port (NCSP) will be held in the first quarter of next year, deputy head of the state property fund Rosimuschestvo Eduard Adashkin told the press.

The fund also plans to auction off the state's stake in the airport Tolmachevo in Novosibirsk within the same timeframe.

The port and airport on the privatization list for this year, but the value assessment of the assets will not be complete until the beginning of 2011.

On October 5, Adashkin said, Rosimuschestvo will announce the results of a competition for an appraiser to value formerly strategic enterprises (infrastructural companies, including NCSP, that were struck from strategic-enterprise lists by presidential order and are destined for privatization in 2010).

The valuation of the state's interests in these transport companies will be completed in the latter part of November, but a number of companies will take longer to assess. This will affect the 20% NSCP stake. "The auction will likely be in the first quarter," Adashkin said.