State-controlled power plant builder Technopromexport is likely to hold an initial public offering (IPO) in the second half of 2008 to raise at least $300 million, a government official said Tuesday. The company, which builds hydraulic, thermal, geothermal and diesel power plants, and power transmission lines in 50 countries, was included on the list of state companies to be privatized in 2008. Igor Grechukhin, a department head at the Ministry for Economic Development and Trade, said the ministry was considering contributing the unfinished Krapivinsky hydropower project in West Siberia to the charter capital of Technopromexport. "If we contribute this hydropower facility to Technopromexport, the IPO proceeds will be used to complete its construction," Grechukhin said. The official estimated that work to complete the hydropower plant`s construction, which began in the 1980s, will require a further $300 million.