* Sees 20 bln roubles from unit sales in 2010-2011
* Of that 12 bln rbls this year, including TransContainer
* Considers Hong Kong, Russia for TransContainer IPO
* Interested investors include foreign companies, EBRD
(Adds quotes, details, background)
By Martin Santa
BRATISLAVA, April 23 (Reuters) - Russian Railways hopes to
raise 20 billion roubles ($687 million) from the sale of stakes
in 18 units this year and next and is waiting for markets to
recover before selling, CEO Vladimir Yakunin told Reuters.
The sales are part of a drive towards modernisation and
streamlining by the sprawling logistics group as the Moscow
government strives to boost non-oil sectors of the economy.
"We were estimating that possible income due to the selling
of our assets amounted to like 20 billion roubles (in 2010-11),"
Yakunin said in an interview on Friday on the sidelines of the
Dialogue of Civilization conference.
"Of course we are seeking (a) better situation on the
market, because now many assets' value dropped due to the factor
of the crisis," he added, speaking in English.
This year alone, Russian Railways -- whose rail network
stretching from Finland to the Pacific is the world's largest --
hopes to earn 12 billion roubles from unit sales, with most of
the cash coming from a listing of cargo arm TransContainer.
"We got a suggestion from Hong Kong, but we also consider
the possibility of listing (TransContainer) in Russia," Yakunin
said, adding that possible investors include the European Bank
for Reconstruction and Development -- which already has a stake
-- as well as domestic and foreign banks and operator companies.
"We had some operations with EBRD, they expressed their
interest in participating, and some other investment bankers ...
also would like to participate," he said.
Independent banks valued TransContainer at $1.7-2.1 billion
earlier this year, and Russian Railways' board has approved the
sale of up to 35 percent in the firm via an IPO. []
CLINICAL OPTIMIST
Investors have lined up to buy into Russia -- from the first
sovereign Eurobond in a decade [] to a flood of
initial and secondary share offerings [] -- to cash
in on a strong rouble and oil-driven economic recovery.
For its part, Russian Railways raised $1.5 billion with a
10-times oversubscribed maiden Eurobond last month
[], but Yakunin said there were no plans to return
to the external debt market again this year.
Greek deficit woes and the Goldman Sachs fraud case have
cast a shadow over markets, but Yakunin stuck by his unit sale
plans which he hopes will raise a total of 100 billion roubles
by 2012.
"Nowadays, I'm a little bit persistent to confirm this
figure (100 billion roubles)," he said.
"I'm a clinical optimist, so I'm trying to put my optimism
in actual efforts and those efforts for us are to develop
relations with international financial markets."
If the company chooses to list TransContainer in Hong Kong,
it will be following in the footsteps of the world's largest
aluminium group, RUSAL <0486.HK>, whose IPO this year put Asian
bourses firmly on Russian corporates' radar screens.
Yakunin also reiterated that rail freight -- a key indicator
of the broad health of the Russian economy -- was not expected
to return to pre-crisis levels before 2013 despite some recent
signs of improved activity.
Freight slumped 15 percent in 2009 as the economy weathered
its worst contraction in 15 years, but, with the recession over,
Russian Railways reckons it may grow by 5 percent in 2010.
(Writing by Toni Vorobyova; Reporting by Martin Santa; Editing
by Michael Shields)
($1=29.11 Rouble)
