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State to Sell Off Gas, Port Assets

The Federal Property Management Agency said Wednesday that a number of state assets are coming up for sale, including a port and a gas shipping company.

Novorossiisk Commercial Sea Port, which announced a 21 percent increase in profit for the first half of the year, to $156 million, will come up for sale in the first quarter of 2011.  Port chief executive Igor Vilinov said Wednesday that the company itself would not participate in the bidding. Russian Railways has also said it will not bid, RIA-Novosti reported.

The property agency is proposing a starting price for SG-Trans, which ships liquefied petroleum gas by rail and is scheduled to be auctioned this year, at 11 billion rubles ($362 million), Interfax reported Wednesday. It also sees a start price for 25.5 percent of power generating company TGK-5 at 4.4 billion rubles.

The state's 13.1 percent stake of insurer Rosgosstrakh was just sold at its starting price of 8.67 billion rubles to a company called RGS-Aktivy.

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