Putin considers plans to privatise defence industry assets

[Zebra]

Putin considers plans to privatise defence industry assets - IHS Jane's 360

Guy Anderson, Editor, London - IHS Jane's Defence Industry
02 October 2014

Russian president Vladimir Putin has reiterated that his government is looking towards the privatisation of defence assets and activities in order to reduce the burden on the country's public finances.

His comments came on 2 October during the "Russia Calling" investment forum in Moscow. A transcript of Putin's remarks were published by the official Kremlin website.

He said that in terms of defence privatsation "we are now looking closely at how and what. Of course not all [businesses will be privatised], but some businesses might be. This creates more favourable conditions for development, keeping in mind that the state invests considerable resources in the defence industry".....

 

[Zebra]

Putin: Some of Russia's defense enterprises could be privatized | Russia Beyond The Headlines

18:25 October 2, 2014 Interfax

Russian President Vladimir Putin is not ruling out the possibility that some of Russia's defense enterprises could be privatized and partly sold on the market.

"We are looking closely now at which of them - certainly not all but some of them - could be corporatized, and part of their assets could be sold on the market," Putin said at VTB Capital's 6th Annual 'Russia Calling' Investment Forum on Thursday.

"Some 25 percent of products released by our defense industry today are for civilian purposes," he said.

Therefore, "in order to make these enterprises more flexible, more efficient, and more competitive, we don't rule out that some of them may be corporatized and brought to the exchange and to the market," he said.

"This creates more favorable conditions for development," Putin said.....

 

[pmaitra]

Who is willing to be that the Chinese would get in, invest, and get controlling stake in some of these companies, while the Indians will be sitting and watching?

 

[jouni]

Those factories are mostly in bad shape, based on Soviet technology. Workers are getting old. They need complete overhaul. Difficult to see any western companies investing in them.

 

[p2prada]

Who is willing to be that the Chinese would get in, invest, and get controlling stake in some of these companies, while the Indians will be sitting and watching?

This will be restricted to Russian nationals.

I am willing to bet Putin will sell it at cheap rates to his billionaire friends.