The Russian Government plans to sell large number of port assets

March 3, 2008 15:43
In 2008 the Russian Federation is planning to sell a whole number of port assets. The first will be OAO "Murmansk Sea Fish Port" plc. For 100% of the shares the State intends to get at least 3.19 billion RUB. OAO "Russian Railways" which has already got an interest in a newly established management company "Murmansk Transport Hub" is considered to be the only possible purchaser of the port's shares at such price, according to B-port.

The experts aren't expecting a rush interest in this asset. It is unlikely that any company will decide to begin developing stevedoring business in Murmansk because a major project for the development of Murmansk transport hub is being implemented in this city. The port's shares are likely to be bought by OAO "Russian Railways" or by the owners of "Murmansk Merchant Sea Port".

"Murmansk Transport Hub" Management Company was established in 2007. Its founders became "Murmansk Merchant Sea Port", "Rosneft" (Russian oil), "Russian Railways", regional authorities and "Rosmorport". It is planned to invest more than 1.464 billion USD in the project implementation of integrated development of Murmansk Transport Hub. But according to the data received from OAO "Russian Railways", the company has never been interested in "Murmansk Fish Port". 

However it must not be ruled out that the auction won't be held. According to the director of Analytical Department OAO "Management Company "Ingosstrakh-Investitsii" Eugeniy Shago, "Murmansk Merchant Sea Port" is valued at a rather high price. For example, recently "Vladivostok Merchant Sea Port" has sold its majority ownership, which seems to be a more attractive asset. The port in Murmansk is suited for relatively small trawlers, has about 50 berths with the maximum depth of 8 metres and cranes with lifting capacity of up to 6 tonnes. To change its business profile would be a rather difficult task.

"Murmansk Sea Fish Port" isn't the only port asset put up for sale this year. In 2008 it is also planned to privatize 20% of OAO "Vostochnyi Port" (Nakhodka) and 20% of OAO "Arkhangelskiy Merchant Sea Port".

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