Telconet Capital buys 50% in the Ogodzhinskoye coal deposit

Cooperation of Rostec with Telconet Capital Fund of Sergei Adoneva and partners is expanding. As the Kommersant has got to know, Telconet acquired 50% of the project of the Gerbikano-Ogodzhinskoye coal deposit in the Amur region, which is estimated at $8-10 billion. The key consumer and investor of the project should be Chinese coal company Shenhua, but it hasn’t yet decided on the format of the participation. Analysts believe that it won’t be easy for the project to work without Chinese partners.

As the Kommersant has found, Telconet Capital Fund of Sergei Adoneva, Albert Avdolyan and Denis Sverdlov became a partner of Rostec in another major project. According to SPARK and the Cyprus Registry, on August 11 Telconet Capital Limited Partnership (Cayman Islands) through Cyprus Stariana Limited acquired 50% of Ogodzhinsky Energy Holding Company (OEH). OEH is the operator of the development project of the Gerbikano-Ogodzhinsky coal deposit in the Amur region with 2.5 billion tons of energy coal resources (the reserves are 744 million tons). Other 50% of the OEH’s shares still belong to the structure of Rostec - RT Global Resources. Telconet Capital bought the share with a par value of 5 thousand rubles from St. Petersburg company Traverse (owners are Vladimir Senchenko and Sergey Yeremeyevich).