OREANDA-NEWS. September 13, 2011. The Government of Belarus has confirmed a list of eight companies for privatisation by the National Agency for Investment and Privatisation (NAIP) controlled by the Ministry of Economy together with the World Bank and financial advisers, reported the press-centre of SORAINEN.

The Council of Ministers resolved that the privatisation process will involve sale of state-owned shares in "Baranovichi industrial complex of concrete structures" JSC, "Belsantehmontazh-2" JSC, "Highway" JSC, "Construction-Installation Trust" JSC, "Belgazstroy" JSC, "Medplast" JSC, "Confa" JSC and "Minsk Margarine Plant" JSC.
It should be noted that these companies are included in the 2011-2013 privatisation plan, approved by the Council of Ministers on 21 March 2011. However, the Council has now withdrawn from guardianship of the State Committee on Property.

Privatisation of these eight JSCs will be conducted with the help of the World Bank and financial advisers. Belarus, with the assistance of the World Bank and the Austrian Government, will receive a financing facility of USD 5 million (approx EUR 3.47 million) for the privatisation of these companies.

As reported by NAIP, some of these facilities will be used for payment for the financial advisers' work. In September an advertising campaign inviting the financial advisers to participate in the privatisation of enterprises will begin. "The active working phase will take place closer to the New Year, when due diligence of the companies will take place. After that the advisers will use their investors database to enhance the results of the Agency on the search of strategists", - said NAIP deputy director on privatisation Jaroslav Pashkovski.

At the same time NAIP with the support of the adviser on privatisation will continue to offer (to implement - if the President so decides) the best international experience on effective enterprise privatisation. "Some of the companies are already in the sphere of interest of strategic investors", noted director of the National Agency for Investment and Privatisation Dmitry Klevzhits.

In 2010 a pilot project for sale of government stakes in five Belarusian JSCs failed. Under the World Bank's assessment the transactions could not succeed that time for several reasons. In particular, investment agents complained about lack of financial motivation. Now the work will not be carried out on a voluntary basis.

Based on web news source tut.by.