Putin to chair meeting of govt commission for control over foreign investments.

19/7 Tass 310

MOSCOW, July 19 (Itar-Tass) —— Prime Minister Vladimir Putin will chair a meeting of the Governmental Commission for Control over Foreign Investments in Russia on Wednesday, July 20.

The commission will consider 13 applications lodged by foreign investments from Austria, Germany, the Netherlands, Cyprus and the United States in the areas of petrochemistry, transport infrastructure, mineral development, telecommunications and manufacturing of specialized equipment, the government press service said on Tuesday.

The prospective deals include the acquisition of stakes in the Nizhny Novgorod and Novosibirsk airports, the Vanino commercial seaport, the Mikheyevsky mining and ore dressing plant and a number of telecom companies.

The commission will consider the application of the French Total company for acquiring assets in the Yamal SPG public joint stock company. Total ranks one of the world’s four leaders in the production of gas and oil. It is prospecting and developing the Yuzhno-Tambeikoye gas condensate field in Russia on the Yamal Peninsula with the appraised reserves of 1.3 trillion cubic meters of gas. The prospective project will involve one of the world’s leaders not only in the development of a promising but complex gas province but also in the construction of Russia’s second liquefied natural gas plant. LNG is a product with the substantial potential on foreign markets.

The commission controls foreign investments in economic entities of strategic importance for national defense and security. Russian strategic plants are of big interest for foreign investors. The Russian Federal Antimonopoly Service is considering 219 applications for the acquisition of such assets.

The Federal Antimonopoly Service will inform the commission about measures taken to lower administrative barriers, to improve the investment climate and to draw investments in the Russian economy.

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