Kamaz, Russia's leading truck maker, will be privatized by 2008, the president of the Volga republic of Tatarstan said Thursday.
A delegation from Tatarstan is holding its first investment summit in London October 19-20.
Kamaz, which was founded in 1976 and whose heavy-duty trucks have won the Paris-Dakar rally on many occasions, is based in Tatarstan.
Mintimer Shaimiyev said the larger part of the Kamaz stock is held by the State Property Committee of Russia and the rest belongs to the government of Tatarstan.
"Kamaz will be privatized by 2008 at the latest. But it could possibly happen in 2007," Shaimiyev said.
Tatarstan First Vice-Premier Boris Pavlov said Kamaz intends to hold an initial public offering in London next year.
"This will raise the capitalization of Kamaz and prepare it for privatization," he said. |
