JSC Rosengineering, one of the largest engineering and construction companies, purchased a block of shares of JSC Giprorybflot

On 14th of December the Auction House of the Russian Federation (the AHRF) held an auction for the sale of 100% block of shares of JSC Scientific Research and Design Institute for Fleet Development and Operation from the Forecast Plan of Privatization.
Three applications were submitted for participation in the tender.
The sale price was 204.15 million rubles.
The Winner of the auction became an investor from the same sector – JSC ROSENGINEERING – the company, which since 1995 has been carrying out engineering and building works in the area of infrastructure construction, including port, railway and transport construction, as well as development of industrial, power and residential objects on the whole territory of the Russian Federation.
The JSC Rosengineering clients are LLC Gazprom Sotsinvest, GC Olimpstroy, OJSC RZhD, PJSC Rosneft’ Oil and Gas Company, Russian Association of Sports Facilities and other major federal and regional structures.

In a portfolio of projects carried out by the Company there are more than 80 major projects, in particular, Port Vera sea terminal in Primorye Territory, new construction and reconstruction of railroad tracks of the Far Eastern Railway, of bridges, viaducts, culverts. During the period of preparation for Olympics in Sochi the Company was acting as General Design Engineer and General Contractor for the second phase of the Gazprom Mountain and Tourist Center in Krasnaya Polyana, as well as for construction of a number of sports facilities for the Olympic Winter Games.

“The branch engineering institute has got in JSC Rosengineering a powerful Investor. Today this is especially important as the company is faced with some financial difficulties, in particular, there are salary delays. Now there is a real chance to upgrade the level of work of the company, to make it an actual leader in its sector. And the area of the main activity of the Investor, his financial opportunities, spotless reputation and experience of work at objects of federal level will guarantee keeping of the main orientation of the institute, will provide a continuity of its development, to maintain a unique team, scientific and practical experience” (Andrey Stepanenko, General Director of the JSC the Auction House of the Russian Federation).

For reference:
The sale of the block of shares of JSC Giprorybflot was carried out by the authorized independent seller – JSC the Auction House of the Russian Federation – on behalf of the Russian Federation. The Auction House of the Russian Federation (the AHRF) is included in the List of sellers of the federal property by the Order of the Government of the Russian Federation № 1874-р of 25th October, 2010.
JSC the AHRF was time and again selected by the Government of the Russian Federation for the sale of federal block of shares of joint-stock companies and objects of property of treasury of the Russian Federation. For today a total amount of the AHRF deals in this sector is 14 billion rubles.