The state holding of stocks in Novorossiysk Commercial Sea Port and in some other companies was included in the privatization plan for this year, said the Russian Govt’s order signed by Russian Prime Minister Vladimir Putin on 4 August 2010.
These companies had been excluded from the list of strategic state-owned enterprises by the June Decree of Russian President Dmitry Medvedev.
Among the companies to go private are Azov Sea Port, Amur Shipping Company, Vanino Commercial Sea Port, Volgograd River Port, Yeysk Sea Port, Yenisey River Shipping Company, Western Shipping Company, Irtysh Shipping Company , Moscow River Shipping Company, Murmansk Commercial Sea Port, Murmansk Shipping Company, Ob-Irtysh River Shipping Company, Rostov Port, Samara River Port, Sakhalin Shipping Company, Northern River Shipping Company , North Port, North-Western Shipping Company , Shipping Company Volga Steamship Line, Tver Port, Tuapse Commercial Sea Port, Cheboksarsky River Port, Yaroslavl River Port.
Novorossiysk Commercial Sea Port is the largest Russian port operator. Last year’s throughput of NCSP Group amounted to 86.5 million tons. Consolidated revenues of the Group for 2009 under IFRS amounted to $675.1 million, net income - $252.2 million
NCSP Group incorporates Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, Novoroslesexport OJSC, IPP OJSC and Baltic Stevedoring Company LLC.
According to the Ministry of Economic Development the state-owned stake in NCSP might by sold next year. The Russian Government has repeatedly stated it would hold privatization of state-owned enterprises in the most appropriate time, depending on market conditions. Meanwhile, some experts doubt the decision-making on the sale of the most attractive companies’ stocks would be transparent.
These companies had been excluded from the list of strategic state-owned enterprises by the June Decree of Russian President Dmitry Medvedev.
Among the companies to go private are Azov Sea Port, Amur Shipping Company, Vanino Commercial Sea Port, Volgograd River Port, Yeysk Sea Port, Yenisey River Shipping Company, Western Shipping Company, Irtysh Shipping Company , Moscow River Shipping Company, Murmansk Commercial Sea Port, Murmansk Shipping Company, Ob-Irtysh River Shipping Company, Rostov Port, Samara River Port, Sakhalin Shipping Company, Northern River Shipping Company , North Port, North-Western Shipping Company , Shipping Company Volga Steamship Line, Tver Port, Tuapse Commercial Sea Port, Cheboksarsky River Port, Yaroslavl River Port.
Novorossiysk Commercial Sea Port is the largest Russian port operator. Last year’s throughput of NCSP Group amounted to 86.5 million tons. Consolidated revenues of the Group for 2009 under IFRS amounted to $675.1 million, net income - $252.2 million
NCSP Group incorporates Novorossiysk Commercial Sea Port OJSC, Novorossiysk Grain Terminal OJSC, Novorossiysk Shipyard OJSC, NCSP Fleet OJSC, Novoroslesexport OJSC, IPP OJSC and Baltic Stevedoring Company LLC.
According to the Ministry of Economic Development the state-owned stake in NCSP might by sold next year. The Russian Government has repeatedly stated it would hold privatization of state-owned enterprises in the most appropriate time, depending on market conditions. Meanwhile, some experts doubt the decision-making on the sale of the most attractive companies’ stocks would be transparent.