http://en.rian.ru/business/20110602/164381593.html
10:23 02/06/2011
Russian Railways should start its privatization with a sale of 10-15 percent to a strategic investor after 2013, not the 25 percent minus one share as the government wants, the rail monopoly's head Vladimir Yakunin said late on Wednesday.
"I think we should sell less than a blocking stake. It will be better to sell a small stake at first," Yakunin said.
The government has approved a $33 billion privatization plan for 2011-2013, which includes the sale of shares in Russia's top ten companies, although there are no firm dates for the sales and the sizes of stakes are often undefined. The state wants to privatize a quarter of Russian Railways by 2013-2015.
Transport Minister Igor Levitin has said it would be reasonable to offer up to 10 percent of Russian Railways shares to investors before 2015.
SOCHI, June 2 (RIA Novosti)
Russian Railways could sell 10-15% to strategic investor
http://www.rbcnews.com/free/20110602103621.shtml
RBC, 02.06.2011, Moscow 10:36:21.State-controlled rail network operator Russian Railways could sell a 10%-15% stake to a strategic investor after 2013, the company's President Vladimir Yakunin told reporters late Wednesday.
"I think that less than a blocking stake (should be sold). It would be better to sell a small stake at the first stage," he said.
In October 2010, Yakunin said that up to 15% of Russian Railways' share capital could be sold in an initial public offering after 2013, while First Deputy Prime Minister Igor Shuvalov said at the same time that the government could sell a 25% minus one share stake.
Siemens Wins $2.98Bln Train Order
http://www.themoscowtimes.com/business/article/siemens-wins-298bln-train-order/438019.html
02 June 2011
By Roland Oliphant
SOCHI — Russian Railways signed an agreement to buy 1,200 electric rail cars worth $2.98 billion from Siemens and billionaire Dmitry Pumpyansky's Sinara Group on Wednesday.
The passenger cars will be supplied as five-wagon trains worth $8.6 million each, according to documents distributed ahead of the signing ceremony.
The deal, signed by Russian Railways president Vladimir Yakunin, Mobility Division chief executive and Siemens vice president Hans-Jörg Grundmann and Sinara Group owner Dmitry Pumpyansky, was one of several signed by the monopoly and its subsidiaries at the sixth international rail business forum hosted by Russian Railways in Sochi.
Under a localization clause, the trains — which are destined for use on regional routes — will mostly be produced at the Ural Locomotives plant near Yekaterinburg. By 2017 the trains should be 80 percent locally produced, Grundmann told The Moscow Times on the sidelines of the conference.
"We're investing about 200 million euros [$288 million] in this," he said. "The demand for rolling stock in this country is very high, and for us it is very important to localize. Otherwise customers are too dependent on other countries and that is just not possible," he said.
Siemens is already in the process of delivering some 56 passenger trains to Russian Railways under agreements signed in 2009 and 2010. It sealed a deal for 221 freight trains at last year's conference.
Yakunin also signed a deal with Transmash Holding for 200 electric locomotives. Transmash holding chairman Andrei Bokharev said the deal was worth something above $1 billion.
The locomotives — to be delivered by 2020 — are being designed in Novocherkassk, Rostov region, at TRTrans, a joint engineering center between Transmashholding and France's Alstom.
Representatives of more than 30 countries are attending this year's international rail forum, an annual event that Russian Railways has hosted in the Black Sea resort since 2005.
The rail monopoly is omnipresent in Sochi. Large swathes of the city have been turned into construction sites, while Russian Railways lays new lines to the airport and the mountain resort of Krasnaya Polyana, and builds a new rail terminal ahead of the 2014 Winter Olympics.
This year's conference is highlighting calls to deepen cross-border cooperation to facilitate an East-West freight corridor in competition with road and sea routes.
Seventeen countries, including the Bulgaria, Finland, the Baltic nations and the Commonwealth of Independent States, use the wider 1,520 millimeter gauge track that was used by the Russian empire in the 1870s, while the rest of Europe uses the narrower 1,435 millimeter gauge.
Prime Minister Vladimir Putin may meet rail chiefs from the 1,520 gauge countries in a bid to promote cooperation, Yakunin said as he opened the conference. He gave no date for the meeting.
In April 2010, Russian Railways unveiled a project to bring the 1,520 gauge into Central Europe by extending a line through Slovakia and Ukraine to Vienna's rail hub.
Siemens to build regional trains in Russia: Joint venture with Sinara Group to supply railway operator RZD
http://www.bne.eu/dispatch_text15689
Siemens - press release
June 1, 2011
Siemens has formed a joint venture in Russia with its Russian partner Sinara Group to deliver regional trains. The new company Train Technologies has entered into an agreement on main terms for delivery of Desiro RUS electric trains with Russian Railways (RZD). The preliminary contract covers 240 trainsets comprising 1,200 railcars, with a total value of about EUR 2 billion. The underlying agreements were signed today during the Forum 1520 congress in Sochi by RZD President Vladimir Yakunin, Hans-Joerg Grundmann, CEO of the Mobility Division of Siemens, and Dimitry Pumpyanski, CEO of the Sinara Group. Final contract details will be agreed during the following negotiations.
Starting in the year 2013, the trains will be produced at a manufacturing facility close to Yekaterinburg. Initially, the joint venture will produce the remaining 16 trains from an order encompassing a total of 54 railcars that was placed with Siemens by RZD in 2009. The contract had a volume of approximately EUR 580 million. In connection with that order acquired in 2009, RZD and Siemens already agreed on a partial train production in Russia. The Siemens plant in Krefeld has recently started producing the first 38 of these trains of the model Desiro RUS in Germany. Now the legal basis is being laid for producing the remaining 16 trains in Russia.
Siemens' Desiro-model trains, which are designed for regional transit, can reach speeds of up to 160 km/h. In Russia, they are known by the name of "Lastochka," which means "little sparrow." The first units are planned to go into service in Sotchi starting in the autumn of 2013. Russia has a great need for modern rail technology. Over the next 30 years, the country plans to invest roughly EUR 300 billion in new trains and infrastructure. "Russia is a strategic growth market for rail technology. Cities in Russia are likewise faced with the challenge of having to increase the quality of life and the competitiveness while conserving resources and protecting the environment at the same time. Our green infrastructure technologies are helping Russia to reach its goals of energy efficiency and climate protection," said Hans-Joerg Grundmann, CEO Siemens Division Mobility. _
Progress on merger of exchanges and depositories offers hope for Moscow's IFC ambitions
http://www.bne.eu/dispatch_text15689
bne
June 2, 2011
The merger of the RTS and Micex exchanges could be legally completed by the end of the year said Micex president Ruben Aganbegyan on Wednesday, reports Prime Tass. He also added that plans for a central clearing depository are now finally underway - a significant technical step towards Moscow's ambition to become a global financial centre.
Speaking on the sidelines of an investment conference, Aganbegyan said that final decisions on the deal are expected to be taken by the middle of June. In February, the respective shareholders signed a preliminary agreement that will see Micex buy a controlling stake in its dollar denominated peer. Micex Chairman Sergei Shvetsov said earlier that the deal could be completed by October 1.
Aganbegyan also said that Micex plans to launch a stock option for management this year, possibly using a portion of the RTS shares it already bought from KIT Finance.
Meanwhile, he added that the National Depository Center and National Clearing Center, both owned by Micex, are expected to start a merger this year, suggesting that the new entity could then become a central depository. In April, Finance Minister Alexei Kudrin noted that a central depository was a top priority for the development of Russia's financial market. However, as bne reported last year, vested interests have been blocking the establishment of a single clearing house, which would boost trust in the markets.
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