Russia may sell part of railway

The Russian government may sell a part of its stake in Russian Railways through a swap for assets as a part of its multi-billion dollar privatisation plan to rectify the budget deficit and cut the state's role in the economy, reported Dow Jones Newswires.

The economy ministry said the government may sell a part of its stake of up to 25 percent minus one share in Russian Railways, which it plans to offer investors, through a swap for assets in or after 2013. Russian Railways is currently 100 percent owned by the state.

Russia's privatisation programme seeks to raise up to US$59 billion in the next five years.
(Source:www.cargonewsasia.com)