December 26, 2008 / 10:14 AM / 11 years ago

Russia govt unveils list of strategic enterprises

MOSCOW (Reuters) - Russia has unveiled a list of strategic enterprises entitled to preferential government support in the economic crisis but said the list was not complete and did not guarantee the receipt of the financial help.

The cabinet published the list made of 295 companies from various industries and compiled by a government commission for increasing sustainability of the economic development on its Web site late on Thursday.

Moscow has pledged over $200 billion (135.7 billion pounds) to stave off the crisis, which has already seen companies cut jobs, salaries and investment plans, forced consolidation in Russia’s 1,000-plus banking sector and prompted a rise in corporate debt defaults.

“The inclusion of a company in the list does not guarantee the receipt of the financial support,” the government said in a statement on its web site http://www.government.ru.

“The main objective...is supporting their stability using not only credit instruments but other measures,” it said adding the measures included restructuring tax arrears, altering tariff policy and granting government orders.

“Besides, if it is needed, the government will (act to) minimise negative social and economic consequences of the closure of these enterprises,” the government said.

Among others, the list includes oil pipeline monopoly Transneft (TRNF_p.RTS), Russian Railways, flag carrier Aerfoflot (AFLT.MM), gas export monopoly Gazprom (GAZP.MM), the largest oil producer Rosneft (ROSN.MM), No.2 mobile operator Vimpelcom VIP.N, Norilsk Nickel (GMKN.MM), the world’s biggest producer of nickel and palladium, and others.

However, the list lacks some major companies key for their industries, such as Russia’s largest silver miner Polymetal PMTL.MM or oilfield services firm Integra INTEq.L, while some companies are mentioned twice.

“The list...is not complete and may be modified by resolution of the commission,” the government said.

To see the Russian-language version of the list, please click on: here

Writing by Maria Kiselyova; Editing by Victoria Main

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