Support The Moscow Times!

City Assets to Raise $447M

Mayor Sergei Sobyanin plans to raise 13.9 billion rubles ($447 million) in 2011 from asset sales, up from more than 1.1 billion rubles this year, Vedomosti reported Tuesday.

The Moscow government owns stakes in 364 companies, including 100 percent of Moscow Integrated Power, 26.4 percent of Mosenergo, 48 percent of Bank of Moscow and 14.2 percent of Vnukovo Airport, the newspaper reported.

The city’s 2011 budget deficit will grow to 146 billion rubles from 101 billion rubles in the last draft, Vedomosti said.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.