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Russia's economics ministry mulls Technopromexport privatization

MOSCOW, April 18 (RIA Novosti) - The Russian economics ministry has proposed including Technopromexport, a state-owned power engineering construction company, on a list of federal property slated for privatization in 2008, a government source said Wednesday.

"It will be an open auction, a regular privatization event," the source said.

Technopromexport, established in 1955, builds power facilities, including hydraulic, thermal, geothermal, diesel power plants, power transmission lines and sub-plants in 50 countries. The overall capacity of facilities commissioned with the company's assistance is over 85 gigawatts.

According to the source, Russia plans to privatize a total of 573 state-owned enterprises, and sell state share in 557 shareholders associations.

The revenue from privatization in 2008 is estimated at 12 billion rubles ($465.12 million). The government is expecting to receive the same amount during privatization in 2009 and 2010, the source said.

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