Basic Element Ltd. (Ба́зовый элеме́нт, or simply Базэл) is one of the largest diversified industrial groups in Russia. The company was founded in 1997 and is owned by Oleg Deripaska.[1] It is based in the British tax haven of Jersey[2] and is headquartered in Moscow.[3] It was known as Siberian Aluminum until 2001.[4]
Overview
Basic Element manages Oleg Deripaska's investments into the six economic sectors of energy and mining, manufacturing, financial services, construction and real estate, agribusiness, and airport and airline management.[5]
Over 150,000 people work at the group's companies in Russia and the CIS, Africa, Australia, Asia, Europe, and Latin America as of 2014.[6]
In 2007 the company's revenues were US$26.8 billion, representing 45% growth relative to the previous year, and it had US$45 billion worth of assets.[7] In 2012 the company's revenues were US$27 billion.[8]
Basic Element built several Olympic facilities for 2014 Winter Olympics in Sochi, including the Coastal Olympic Village, Imeretisnkiy sea port, Doubler of Kurortny Avenue in Sochi, renovation of the Sochi International Airport. The total investments account for over $1.4 billion.[9]
In June 2016, after the United States Treasury listed Basel on its list of Russian Oligarchs, Officials, and Entities in Response to Worldwide Malign Activity, Valery Pechenkin became the general director of Basel, replacing Gulzhan Moldazhanova. Moldazhanova had been the general director from 2005 until 2009, when Deripaska became general director, and then again from the summer of 2012 until June 2018.[1][10]
Operations
Energy and mining sector
En+ Group is Russia-based diversified mining, metals, and energy group. En+ Group holds:[16]
- a 47.41% stake in alumina and aluminium producer UC RUSAL
- a 100% stake in EuroSibEnergo PLC power company
- a 100% in Strikeforce Mining and Resources Ltd (SMR) (ferromolybdenum producer)
- a 100% in En+ Downstream (includes aluminium downstream assets)
- a 100% in En+ Coal
- Central European Aluminium Company (CEAC), which has run the Kombinat Aluminijuma Podgorica (KAP) aluminium smelter in Montenegro, and the Rudnic Boxita Niksic bauxite mine, which supplies raw materials for the smelter, since 2005.
- Dmitrov Pilot Plant for Aluminium Canning Tape (DOZAKL) strip with a polished surface for the manufacture of lamplight reflectors and lath ceilings.[17]
Machine building sector
JSC Russian Machines was established in 2005 to unite Basic Element's machine building assets.[16]
Airport management
Basel Aero, a joint venture between the Singaporean Changi Airports International, Basic Element, Sochi International Airport and the Russian Sberbank, is a company-operator of airports in Sochi, Krasnodar, and Anapa. As of 2015 the company handles 9.5% of total passenger traffic and 3.5% of the total cargo traffic in Russia.[18]
Basel Aero Airports
- Sochi Airport
- Krasnodar Airport
- Anapa Airport
Basel Aero Airports
- Sochi Airport
- Krasnodar Airport
- Anapa Airport
Financial services sector
Basic Element has been managing Oleg Deripaska's personal stake in the amount of 10% of Ingosstrakh's ordinary shares.
Construction sector
JSC Glavstroy is a vertically integrated construction holding corporation. Management functions are carried out by Glavstroy-Management.[16]
Other businesses
Agribusiness
- Kuban AgroHolding
- AquaDin (LLC), manufacturer of non-alcoholic beverages
- Voskhod Stud Farm
Port business
- Imeretinsky Port, Sochi
Real estate
- BasEl Real Estate
Agribusiness
- Kuban AgroHolding
- AquaDin (LLC), manufacturer of non-alcoholic beverages
- Voskhod Stud Farm
Port business
- Imeretinsky Port, Sochi
Real estate
- BasEl Real Estate
Owners and management
The owner of the "Basic Element" is entrepreneur Oleg Deripaska. Legally most of the assets of the companies included in the "Basic Element" belong to one degree or another to Basic Element Ltd (registered on the island of Jersey), which is 100% owned by A-Finance, a company registered in the British Virgin Islands, the beneficiary of which is Deripaska.[19]
CEO is Valery Pechenkin.[20]
External links
References
- Oleg Deripaska's Basic Element conglomerate now has a former spook as CEO «Медуза», 15 June 2018, retrieved 16 June 2018^
- US-Finanzministerium 6 April 2018: Treasury Designates Russian Oligarchs, Officials, and Entities in Response to Worldwide Malign Activity, retrieved 9 April 2018.^
- Basic Element Company Business Week, retrieved 2009-07-28^
- History of the Russian Aluminium Industry Rusal.ru, retrieved 2 June 2017^
- Business Basic Element, retrieved 2014-09-02^
- Company key facts Basic Element, retrieved 2014-09-02^
- Basic Element increases assets and revenues Basic Element, retrieved 2014-09-02^
- Суммарная выручка группы "Базовый элемент" в 2012г. составила 27 млрд долл. RBC, retrieved 2014-09-02^
- Stephanie Baker, Ilya Arkhipov. Rich Russians Sparring With Putin Over $48 Billion Olympics Bet Bloomberg, 26 November 2013, retrieved 14 January 2016^
- Экс-замдиректора ФСБ возглавил "Базовый элемент" Олега Дерипаски: В "Базовом элементе" сменился генеральный директор. Вместо Гульжан Молдажановой холдинг возглавил ее заместитель Валерий Печенкин, который до своего прихода в компанию был замдиректора ФСБ «РБК» (rbc.ru), 15 June 2018, retrieved 10 August 2021^
- Пётр (Pryanishnikov, Pyotr) Прянишников. Атака на призраков: Бывшие сотрудники КГБ разработали план борьбы с нынешними сотрудниками ФСБ "Версия" (Versiya), 1 February 2001, retrieved 10 August 2021^
- Игорь (Khotenkov, Igor) Хотенков. Теневой кардинал "СИБАЛа": Истории из жизни тайного советника Олега Дерипаски compromat.ru, 16 January 2003, retrieved 10 August 2021^
- Олег (Lurie, Oleg) Лурье. СВИДЕТЕЛЬ ОБВИНЕНИЯ ╚РУССКОЙ МАФИИ╩: РАЗЫСКИВАЕТСЯ РОССИЕЙ ЗА РЯД УГОЛОВНЫХ ПРЕСТУПЛЕНИЙ «Новая газета», 16 January 2003, retrieved 10 August 2021^
- Alternate archived on 17 January 2003. КОЛУМБ ОТКРЫЛ АМЕРИКУ: Итальянские злоключения Тайванчика la Repubblica, 7 January 2003, retrieved 10 August 2021^
- Карло (Bonni, Carlo) Бонни, Джузеппе (D'Avanzo, Giuseppe) Д'Аванцо, Владимира (Ivanidze, Vladimir) Иванидзе. Итальянские злоключения Тайванчика: Вот секреты грязных российских денег в Италии compromat.ru, 7 January 2003, retrieved 10 August 2021^
- Business basel.ru, retrieved 2011-08-23^
- Our businesses enplus.ru, retrieved 2014-09-02^
- Аэропорты «Базэл Аэро» с января по май 2016 года обслужили более 2,8 млн пассажиров Коммерсантъ, 14 June 2016, retrieved 14 July 2017^
- Еженедельный журнал «Профиль». ПОСТПИКАЛЕВСКАЯ РОССИЯ: НОВАЯ ПОЛИТИКО-ЭКОНОМИЧЕСКАЯ РЕАЛЬНОСТЬ Профиль, retrieved 2024-06-06^
- Валерий Печенкин возглавил «Базовый элемент» Олега Дерипаски Коммерсантъ, 2018-06-15, retrieved 2024-06-06^