Putin approved transfer of stake in BSC under Bashkiria management

Vladimir Putin approved the transfer of a controlling stake in the Bashkir Soda Company (BSC) under the management of Bashkiria. The Decree of the President of Russia "On the Bashkir Soda Joint Stock Company," dated June 7, 2021, was published on the legal information portal.

"In order to develop the chemical industry, I decide to accept the proposals of the Government of the Russian Federation and the Head of the Republic of Bashkortostan:

a) on the transfer of 38.3 percent of ordinary shares (634,174 pieces) of the Bashkir Soda Joint Stock Company, which are in federal ownership, to the ownership of the Republic of Bashkortostan;

b) on the transfer of 11.7 percent of the ordinary shares (194,151 pieces) of the Bashkir Soda Joint Stock Company to the trust management of the Regional Fund Joint-Stock Company (Ufa)," the document says.

Bashkir Soda Company is included in the list of strategic enterprises of the Russian Federation. The decree comes into force on the day of signing.

At the end of May, the Head of Bashkortostan launched the revived production of washing powders under the well-known brands Zifa and Luch at the Ekol subsidiary of the Bashkir Soda Company. In addition, an agreement was signed with BSC at the St. Petersburg International Economic Forum on implementing the largest enterprise project in the region with an investment volume of 27.6 billion rubles.