RF govt panel to consider 13 applications from foreign investors

MOSCOW, July 20 (Itar-Tass) - Prime Minister Vladimir Putin will chair
a regular meeting of the Governmental Commission for Control over Foreign
Investments in the Russian Federation on Wednesday.
The Commission is to consider 13 applications filed by foreign
investors from Austria, Germany, the Netherlands, Cyprus, and the United
States on deals in the areas of petrochemistry, transport infrastructure,
mineral development, telecommunications and manufacturing of specialized
equipment, the government press service announced.
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 telecomm
companies.
The Commission will also consider, in particular, the application of
the French Total company for acquiring assets in the Yamal SPG (LNG)
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-Tambeiskoye gas condensate field in Russia on the Yamal Peninsula
with the prospected 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 purpose of the Commission is to exercise control over foreign
capital investments in economic entities that are of strategic importance
in ensuring the defence and security of the country. Russian strategic
enterprises are of great interest to foreign investors. Two hundred and
nineteen applications on deals concerning the assets of such enterprises
are currently under consideration at FAS (Russian acronym for Federal
Antimonopoly Service).
During Wednesday's session, FAS will brief Commission members on
measures aimed at relaxing administrative barriers, at improving the
investment climate and at attracting investments in the Russian economy.