The authorities of Yamal-Nenets Autonomous District (YNAR) plan to acquire 25% of shares plus one in Severrechflot JSC (North River Fleet), Olga Kasian, the Chief Manager of Economics and Finance of the shipping company said.

The YNAD is waiting to acquire part of the Severrechflot’s share issue. The shipping company has been considering increase shares issue to increase its stock capital, Mrs. Kasian said, in accordance with the board of directors’ decision by the end of 2009.

Currently, the authorized capital of Severrechflot JSC amounts to 213.390.421 rubles, divided into 2.555.880 ordinary stocks, 83.49 rubles a share.

According to Eugene Novoselov, the deputy director of the YNAD Department of Transport and Road Management, the majority interest would allow the regional authorities improving the management of passenger traffics.

"The ships are operating on our territory, but the company is owned a 100 percent by the Administration of the Khanty-Mansi Autonomous District ", Mr. Novoselov was quoted as saying.

Severrechflot is one of the major carriers in the waterways of the Ob-Irtysh water basin, operating on the territory of Khanty-Mansiysk, Tyumen and Yamal-Nenets Autonomous Regions.