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Professional community supports the FSUE “Rosmorport” corporatization plans

Feasibility study of the FSUE “Rosmorport” corporatization proposed for discussion of the professional community. Consideration of the enterprise corporatization by the Governmental Committee will be the next stage.

Federal State Unitary Enterprise is restricted in its day-to-day activity and development as a business entity, claimed FSUE “Rosmorport” General director Igor Rusu at the round table “Ways of Russian Port Infrastructure Reformation” in Moscow, on the 17th of November, 2010. Corporatization and privatization in the port sphere are strong trends in the world today. The world practice approves the good influence of corporatization on the development and efficiency of the whole sphere and certain companies. After the FSUE “Rosmorport” corporatization 100 % of shares will be owned by the state.

According to financial and economic analysis of the enterprise corporatization optimistic forecast of JSC “Rosmorport” revenue for the next 4 years (till 2015) will be 4 times higher than of FSUE “Rosmorport” during the same period of time and will make 51 billion rubles per year. New investment projects that will be possible after the corporatization will make about 30 % of the revenue. Marketing orientation will let the company use debt financing for its development.

The state will get a range of advantages as a result of Rosmorport corporatization: growth of the enterprise economic resources, capitalization increase, additional taxes, business climate improvement, revival of the transport sphere of economy.

Among the basic goals of OJSC “Rosmorport” infrastructure company:
• Satisfaction of public needs in export, import, cabotage and transit cargoes transshipment by the means of seaport infrastructure capacity enhancement, through improvements of its efficiency, availability, safety and service quality;
• Increase in the state profits due to optimization of management and development of the sea infrastructure;
• Support to small and socially important ports;
• Self-repayment and profit enhancements of the enterprise;
• Diversification and new business activities of the enterprise;
• Diversification of financial and investment resources;
• Creation of competitive international infrastructure company;
• Creation of the sole responsibility center in port;
• Ensuring the necessary safety level, including navigation and environmental safety.

After the corporatization Rosmorport will be able to provide additional services including:
• Management of the state and private investments in port and coastal infrastructure;
• Construction and following leasing of port terminals and logistic complexes;
• Development and operation management of abroad terminals;
• Information, consulting and other services to the port infrastructure users.

The corporatization assumes the creation of the sole business entity in the sphere of the seaport economy management (OJSC “Rosmorport”) with transferring to its authorized capital property and authorities on the basis of the intended law. It is proposed to provide OJSC “Rosmorport” with the right of the land subleasing and land tax relief trough the special provisions in law (as those concerning OJSC “RZD”). According to the current law FSUE “Rosmorport” has no subleasing rights for the federal land it operates.

FSUE “Rosmorport” press secretary