Murmansk Marine Fish Port on privatization list

May 8, 2007 11:11

Russia's PM Mikhail Fradkov has signed an order approving amendments to Part II of the draft plan (program) of privatization of the federal property for the year 2007 and main trends of federal property privatization in 2007-2009. The added list of entities to be privatized includes 100% of shares of OAO Murmansk Marine Fish Port (plc).

The company's general director Vladimir Sokolov commented on the development saying that the government should better wait till 2009 before putting up the port's shares for sale. Now 100% of the port's shares (4,752,760 shares with a face value of RUR100.00 each) belong to the state and Sokolov thinks that the company's assets can be increased in the coming two years in order to raise the market price of the above shares.

According to Sokolov's projections, the port's shares will not be put up for sale in the current year 2007. That is not profitable either for the port, for the city and the whole Murmansk province.

Probably, the company's new owner will not be interested in focusing on fish and the once big fish landing place may sink into oblivion. Therefore, the port's administration is now working at possible ways to retain the specialization of the company and its staff with experience of fish handling.

They have just started active cooperation with the fishermen so as to bring them back to their home port. There are plans for new, more comfortable conditions for the Basin's fishermen.

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