Rostec State Corporation may transfer 17 sites in Moscow for construction projects as non-core assets. Aleksander Nazarov, Deputy CEO of Rostec, in its TASS interview stated that the property developed could be used under the Moscow residential fund renovation program.
Aleksander Nazarov noted that such sites are not but old plants, abandoned since 1990-s. “We do not need them for our production, they will never be used and we classify them as non-core assets. However, these sites may be useful as areas for the implementation of construction projects. Any investment –supported construction project in Moscow means that a part thereof is likely to be renovated, while the part is likely to be used for infrastructural purposes on commercial bases,” he said.
According to Aleksander Nazarov, the State Corporation intends to invest in construction projects only as an owner of “duly registered” plots.
“In the past years the state transferred to us dozens of “contaminated” assets. We managed to revitalize some enterprises and make them efficient and not loss-making. During the 10 years over 600 billion rubles were invested in modernizing and retooling only. The sites are dead load of the modern industry, they are not but shabby, empty workshops.” Aleksander Nazarov said.
