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| Cabinet Decides to Proceed with Sale of Heating Plants |
| Bratislava, 10.02.2011 |
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| Bratislava, February 9 (TASR) - The Government has decided to sell off currently state-owned heating plants, Finance Minister Ivan Miklos (SDKU-DS) announced at a press conference following a Cabinet session on Wednesday.
"We've issued a recommendation to the chair of the executive committee of the National Property Fund (FNM) that they, in conjunction with the Economy Ministry, should draw up a project on the privatisation," said Miklos.
The heating plants in question are located in Bratislava, Trnava, Zilina, Martin (Zilina region) and Zvolen (Banska Bystrica region) and Kosice.
"We'll privatise them (heating plants) via a tender, we'll seek strategic investors. We haven't agreed on the proportion (of shares) yet, but it will be at least 51 percent," he said, while adding that FNM and the Economy Ministry are required to provide specific figures as well as to determine whether local administrations also ought to chip in and gain part ownership.
According to Miklos, past experience has shown that management in the plants hasn't exactly been effective. "Some of them are in the black, but largely thanks to the sales of emissions. Yet some of them are in the red notwithstanding such sales," he noted.
An analysis has estimated the market value of the companies at between €160-200 million. By way of comparison, the average annual income for the state from the companies' dividends between 2002 and 2010 stood at €4.2 million.
tf/tm
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
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