Rostekh

The incurable "Mechel".

Evgeniy Sigal, "the Dengi" columnist, investigates how Igor Zyuzin’s company turned out to be on the verge of bankruptcy, how one of the largest Russian steel companies is on the verge of bankruptcy, who could get all its assets and who will pay for its debts.
The doctor’s call.
The name of the billionaire Igor Zyuzin became known publicly in July 2008, when Vladimir Putin criticized him and his company "Mechel". The problems of the industry, including transfer pricing, which allows the companies to minimize taxes were discussed at a government meeting held with the participation of the owners of the leading metallurgical enterprises. Zyuzin was not present at the meeting. "We invited Igor Vladimirovich Zyuzin, the owner and manager of "Mechel" Igor V. Zyuzin, to the meeting, but he suddenly fell ill. And meanwhile in the Q1, the company sold its raw materials abroad at the prices twice below the market price . And where is the margin in the form of taxes?" - Vladimir Putin wondered. He advised Zyuzin (today we can say that this phrase became catch) "to recover as soon as possible, otherwise they will have to send him a doctor and clean all these problems up". And he also asked to pay special attention to the issue of FAS pricing in "Mechel" "and maybe even the Prosecutors’ Investigation Committee" (then the IC was part of it).

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"Metalloinvest" to share Udokan.

"Metalloinvest" and "Rosteh" are seekngf partners in China for the development of Russia's largest copper deposit Udokan.
Alisher Usmanov’s Mining and metallurgical holding "Metalloinvest" are in talks with Chinese companies about the sale of shares in the Udokan copper deposit, Bloomberg reported, citing two of its sources. "The Vedomosti" source, close to one of the negotiating parties, states that "Metalloinvest" and the state corporation "Rosteh" are looking for a joint venture partner.
The representative of "Rosteh" explained to "the Vedomosti" that the corporation is still going to participate in the Udokan project and intends to implement an option to acquire a blocking stake from "Metalloinvest". "Rosteh" and "Metalloinvest" are already partners and negotiate together, including with the Chinese side", - "the Vedomosti" source close to one of the negotiating parties stated. Yet a possible partner is not defined, and how the deal will be structured - is not clear. "We are not yet ready to comment on the next steps", - the representative of "Rosteh" stated.

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Rostech has outstripped 69 companies in the competition for the Uganda oil

Rostech, the consortium of 3 Russian companies, RT Global Resources (a subsidiary of the Russian Technologies), Tatneft and VTB Capital has been included to the short list of the claimants for construction of the first oil refinery in Uganda with annual capacity of 3 million tons, the Minister Counsellor of Uganda N. Ocheger  says. The CEO of RT Global Resources A. Korobov confirms this information.

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New Enhancements to Rusmininfo,full story selector available in Russian

Rusmininfo is pleased to announce some further enhancements to the news service.This week we have launched a full story selection system in Russian so now every user can select the news they want to receive according to their exact parameters in both Russian and English for full e-mail alerts.
To set up your new selections please log in and click on 'My News Alerts' then use the drop down menu and click on the companies,countries and sectors you want to receive news on.
If you have mislaid your log in details please e-mail [email protected]
Best Regards
Rhod Mackenzie
Managing Director

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Usmanov offers the largest Russian copper deposit to Norilsk Nickel

Metalloinvest Holding of Alisher Usmanov and Rostekh state corporation (former Rostekhnologii) offered the largest Russian copper deposit Udokan to Norilsk Nickel, CEO of Rostekh Sergey Chemezov claimed.

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