V. Putin outlines conditions for large-scale privatizations; SCF up for sale

Vladimir Putin

Russian president Vladimir Putin has informed leading state-owned firms, including the country’s top shipping line, Sovcomflot, that privatisation deals for them are imminent.

The list of firms to be privatized include Rostelecom, Transneft, Aeroflot, Rosneft and Russian Railways as Russia looks to boost its economy.

An IPO for Sovcomflot could take place later this year. The current fleet of Sovcomflot numbers 142 vessels, totalling 12.4m dwt.

President Putin outlined the main conditions under which the second wave of large-scale privatization is to take place over the next two years, according to statements made after a meeting with heads of state-owned companies on Monday.

Putin did not discuss in detail stakes in which companies will be privatized in 2016-2017.

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