Belarus to Privitise Part of its Petrochemical Industry

The Belarusian government has unveiled a plan to sell off a part share in state owned petrochemical operations. Under the plan, the government would sell 49.9% in 10% lots of the companies, but retain a controlling share.

The plan has been designed to net the government in excess of $1billion of investment revenue, with an estimated $250million to be secured before the end of the year. This will also bring larger returns for the government, than keeping them wholly government owned entities.

The plants that would be affected by the partial privitisation include:

• The Naftan Oil Refinery in Navapolatsk
• The Azot chemical plant in Hrodna
• The Belshyna tyre factory in Babruysk
• The Khimvalakno chemical fibre plants in Hrodna, Svetlahorsk and Mahilyow

Company structures are due to be changed prior to the beginning of August, and the sale of the part share is scheduled to be completed before the end of the year.

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