Russian Railways exec: Govt to mull selling 50% in TransContainer

MOSCOW, Aug 7 (PRIME) -- The government will discuss the sale of 50% in container railroad operator TransContainer, owned by Russian Railways as part of President Vladimir Putin’s order to increase containerization and boost transit transportation volumes four times, Russian Railways deputy CEO Andrei Starkov told reporters on Tuesday.

“We are supposed to have some sort of a government meeting to discuss how the sale of TransContainer would affect fulfillment of the presidential orders, discuss the consequences of the sale and consequences of the way in which money from the sale would be spent on this or that goal,” he said.

He also said that Russian Railways’ subsidiary private pension fund Blagosostoyanie was studying a possibility to sell leasing company TransFin-M.

Russian Railways also submitted documents on corporatization of Blagosostoyanie pension fund, though it is too early to speak about its privatization.

“Currently, the fund’s format is that of a non-commercial organization, so it would be wrong to speak about a sale. We sent a directive that envisages classic corporatization with Russian Railways receiving a stake in the joint stock company that would be established on the basis of Blagosostoyanie depending on its contribution as founders of the fund,” he said.

The stake that Russian Railways would receive in the fund it unclear, but the company will definitely be a majority owner, he added.

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