Russia will sell up to 15 percent in its top oil producer Rosneft for over 200 billion roubles ($6.77 billion) in 2012 as part of a broader privatisation drive that can yield around $40 billion by 2014, Economy Ministry said.
“We plan that … revenue from privatisation, which will directly flow into the federal budget, will amount to 300 billion roubles in 2012, 380 billion roubles in 2013 and 475 billion roubles in 2014,” said Alexei Uvarov, director of the Economy Ministry’s property department.
Uvarov also told a briefing that in 2012Russiaplans to sell 10 percent stake in the country’s No.2 lender VTB, 25 percent stake in a shipping company Sovkomflot and 4.1 percent stake in power grid company FSK.
Russiaalso considers partial privatisation of railroad monopoly RZhD in 2014 and plans to cut stake in Uralvagonzavod after 2012, with floating a 25 percent stake minus one share is one of the options. ($1 = 29.55 Russian Roubles)
