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    Government approves $33 bln privatization plan for 2011-2013

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    The Russian government has approved a privatization plan for sale of federal property in 2011-2013, paving the way for a sell-off which could yield 1 trillion rubles ($33 billion) for the state over the next three years, Economic Development Minister Elvira Nabiullina said on Wednesday.

    he Russian government has approved a privatization plan for sale of federal property in 2011-2013, paving the way for a sell-off which could yield 1 trillion rubles ($33 billion) for the state over the next three years, Economic Development Minister Elvira Nabiullina said on Wednesday.

    The government hopes to get most of the privatization revenues from the sale of shares in ten major state-owned banks and companies. All decisions on the sale of these companies have been confirmed, Nabiullina said.

    The list of privatisations includes the sale of shares in oil major Rosneft (25 percent minus one share), RusHydro hydropower generator (7.97 percent minus one share), the Federal Grid Company of Unified Energy System (4.11 percent minus one share), the country's largest shipping company Sovcomflot (50 percent minus one share), Russia's top bank Sberbank (7.58 percent minus one share), the country's second largest lender VTB bank (35.5 percent minus one share), the United Grain Company (100 percent by 2012), Rosagroleasing agricultural leasing company (50 percent minus one share from 2013), the country's rail monopoly Russian Railways (25 percent minus one share from 2013) and Russian Agricultural Bank (25 percent minus one share by 2015), Nabiullina said.

    MOSCOW, November 17 (RIA Novosti) 

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