Russia plans to earn $30 bln by selling state companies stock

MIAMI (Itar-Tass) - Russia plans to earn over 30 billion US
dollars by selling stock of state-owned companies in the coming three
years, Deputy Prime Minister Sergei Ivanov told a forum of emerging
economies in Miami on Thursday.
He said over 850 companies are on the privatization plan for 2011
-2013. They include VTB bank, Sovcomflot shipping company, United Grain
Company, RusHydro electric power utility, Sberbank of Russia, Rosneft,
Rosagroleasing, Rosselkhozbank, RZD railways monopoly and others.
As for Sovcomflot, the government plans to sell 50 percent of its
stock by 2013.
Ivanov specified 25 percent will be auctioned this year and another 26
percent in 2012-2013.
Sovcomflot is the biggest Russian shipping company with close to 150
vessels with a total deadweight of 11 million tons. Sovcomflot offers a
full range of crude oil, refined petroleum products and liquefied gas
transportation services. It is one of the world's leading tanker owners.