Last government-owned giant cod quota holder at crossroads

December 11, 2006 08:38

Archangelsk Trawler Fleet plc (ATF for short) owned 100% by Russia's Federal Government is shortly completing a streamlining procedure and next year a decision would have to be made regarding possible sale of shares to private interests, according to Archangelsk Regional government.

Speaking during 30 November 2006 meeting with Federal Property Agency in Moscow, the Archangelsk Region Governor Nickolay Kiselyov underlined that irrespective of the forthcoming privatization, the region's authorities would be working towards preservation of the giant as a vertically integrated single complex containing fleet, port, ship repair works, wholesale trade division and onshore factory.

Besides, the participants of the meeting at the ROSIMUSCHESTVO Federal Property Agency have not excluded possible future development of ATF in a framework of a holding with 100% government capital.

The parties have also agreed to draw up a plan for joining efforts of ROSIMUSCHESTVO with Archangelsk Region government towards further economic development of the largest cod quota holder of the region.

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