*DJ Russia Minister: Privatization Will Boost Competition in Economy

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:19 ET (10:19 GMT)

*DJ Russia: Oil And Gas Share Of GDP Will Fall 1.5% In 3 Years

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:29 ET (10:29 GMT)

*DJ Russia Minister: Will Bring Companies Public On Market Demand

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:30 ET (10:30 GMT)

*DJ Russia: Hiring Russian, Foreign Consultants For Asset Sale

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:31 ET (10:31 GMT)

*DJ Russia: To Sell RUB600-RUB700 Bln In State Assets In 3 Years

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:33 ET (10:33 GMT)

*DJ Russia Minister: Still Debating Which Cos Will See Stake Sales

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2010 06:37 ET (10:37 GMT)

DJ Russia To Raise RUB600B To RUB700B In Asset Sales In 3 Years

MOSCOW (Dow Jones)--Russia plans to sell between RUB600 billion ($19.9 billion) and RUB700 billion of state asset in the next three years to raise money to fund its budget deficit, Economy Minister Elvira Nabiullina said Thursday.

The privatization of government enterprises and the sale of state-owned stakes in blue-chip companies is an opportunity to increase competition in the Russian economy and develop the private sector, Nabiullina told reporters.

Russia will hire both local and international consultants to advise it on the sales of the companies, she said.

While the exact list of assets to be sold has not been finalized, investor demand and market conditions will be taken into consideration, Nabiullina added.

Russia plans to reduce the contribution of oil and gas to its economy by 1.5% over the next three years, she said.

-By Ira Iosebashvili, Dow Jones Newswires; +7 495 232-9192, ira.iosebashvili@dowjones.com

(William Mauldin in Moscow contributed to this report.)

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=btEMYBwlYTcgLXJagNXTPA%3D%3D. You can use this link on the day this article is published and the following day.

(END) Dow Jones Newswires

July 29, 2010 07:04 ET (11:04 GMT)

Copyright (c) 2010 Dow Jones & Company, Inc.