Russian sports minister: McLaren’s words on "institutional conspiracy" erroneousSport December 09, 18:59
Russian PM says sanctions are not worth loss they cause for businessBusiness & Economy December 09, 18:24
Roscosmos praises contribution of US astronaut John Glenn to world cosmonauticsScience & Space December 09, 18:19
Russian Sports Ministry urges investigation into facts stated in McLaren reportSport December 09, 18:13
WADA says RUSADA must demonstrate 'independence from outside interference'Sport December 09, 18:03
Russian PM says Nord Stream-2 project benefits all participantsRussian Politics & Diplomacy December 09, 18:00
Russian premier says Rosneft stake sale is 'largest deal' in 2016Business & Economy December 09, 17:38
IPC says full findings of McLaren report unprecedented, astonishingSport December 09, 17:05
General Staff: Syrian army takes control of 93% of Aleppo’s territoryMilitary & Defense December 09, 17:04
MOSCOW, November 6 (Itar-Tass) - The Novorossiysk Commercial Sea Port will be privatised before the end of the year through a market transaction, Minister of Economic Development Alexei Ulyukayev said.
“We think that the privatisation should proceed in accordance with the best practices through a market transaction,” he said on Wednesday, November 6.
The minister confirmed that the sale of the sea port was in the privatisation programme for 2013.
Earlier, First Deputy Prime Minister Igor Shuvalov said that the sea port would be sold before the end of this year. However Deputy Minister of Economic Development Olga Dergunova said in April that the privatisation of the sea port might not take place in 2013 because the documents were not ready.
Summa Group and Transneft own 50.1 percent of the sea port on a parity basis through the offshore company Novoport Holding Ltd. The federal government owns 20 percent, Russian Railways holds 5 percent, and the rest of the stock is free floating.
It was reported earlier that 30 companied had shown interest in buying the seaport shares. Subject to privatisation will be the 20 percent stake held by the federal government, without Russian Railways’ 5 percent.
Several companies showed interest in acquiring the seaport shares, including Sergei Shishkarev’s Delo Group, Vladimir Kogan’s Neftegazindustria, Ukraine’s Transinvestservice, and the investment fund Abu Dhabi Invest AD.
Ziyavudin Magomedov’s Summa Group, the current co-owner of controlling interest in the Novorossiysk Commercial Sea Port, may also bid.
Another holder of controlling interest, state-owned Transneft, said it had no intention of buying the sea port shares.
The Novorossiysk Commercial Sea Port (NCSP Group) is one of the largest European providers of stevedoring and port services. The Group is the third largest port operator in Europe by cargo turnover, and the undisputed leader in the Russian market.
The Group accounts for 29.3 percent of all cargo turnover through Russian seaports. The Company exceeded the country's second largest port by turnover, the Big Port of St. Petersburg, by nearly three times in 2011.
The company holds leading positions in transfer of crude oil (58.6 percent of total), sugar (70.8 percent), grain (29.6 percent), oil products (15.7 percent), ferrous metals (28.2 percent) and nonferrous metals (26.9 percent).
The port in Novorossiysk, which is a key gateway for Russian import and export cargo, handles about 52 percent of the Group's cargo turnover. NCSP Group accounts for 96 percent of the combined cargo turnover of stevedoring companies operating in Novorossiysk.
NCSP operates primarily at the Port of Novorossiysk, a multi-purpose, year-round, deep-water port located on the Russian shore of the Black Sea which has a rare combination of geographic, topographic and infrastructure advantages among ports in the Black Sea-Azov basin.