State companies that may be sold to bolster the country's dwindling finances have a net worth of more than €10bn, according to the country's 2009 Finance Accounts, the annual statement of what Ireland has spent.

The list does not include the two most valuable jewels in the semi-state crown, the ESB and Bord Gáis, which have a total estimated value of around €5bn.

RTÉ and CIE are also omitted from the government's list, although they are all on economist Colm McCarthy's hitlist of semi-states that could be sold or partially sold off.

RTÉ and CIE are loss makers and would not be worth anything near the billions of euro of the two power companies but it is possible that more profitable parts of RTÉ, such as 2FM, could be sold off separately, as could profitable routes in Dublin Bus.

The most valuable state company listed on the Finance Accounts is the forestry company, Coillte, which has a net asset value of over €1.2bn. This is not the worth of the trees but the value of the land on which they are planted – which stretches to nearly 7% of the country's total acreage.

The Dublin Airport Authority, which is set to unveil its controversial Terminal 2 building shortly, is the next most valuable asset, at €986m. The Dublin Port company is the most valuable of all the ports with a net assets value of €238m at the end of last year. This is followed by Cork Port, valued at €70.5m, and Dun Laoghaire Harbour Company, which is worth a respectable €44.7m.

While the government has long since dispensed with Aer Lingus, its 25% 'golden share', effectively designed to stave off a hostile takeover by Michael O'Leary, has a net asset value of just short of €177m.

The state's interest in the western- based enterprise support agency, SFADCo, is worth over €106m while its interest in the national oil reserve agency is worth €228m, according to the Finance Accounts.

The author of the 'An Bord Snip Nua Report' Colm McCarthy, along with economist Alan Matthews and Donal Nally of the Department of Finance, are due to present their report to Brian Lenihan before the end of the year.

The semi-state rich and poor

ESB .......................... >€3. 5 bn (est.)

Bord Gáis................. < €3.0 bn (est.)

Coillte................................... €1.2 bn*

Dublin Airport Authority.... €986m*

Dublin Port.......................... €238m*

National Oil Reserve Agency .............................................. €229m*

Bord na Móna...................... €190m*

Aer Lingus (golden share).. €177m*

Eirgrid................................. €90.3m*

Port of Cork Co................... €70.5m*

Loss makers

RTE........................................ €250m

(RTE recorded a loss of €16m last year. But the broadcaster regularly reported surpluses of €25m plus in the noughties, which would give it a potential value of €250m)

An Post............................... €39.8m*

*State's net assets at 31 December 2009, according to Department of Finance accounts.