Basic Element (company) explained

Basic Element Group of Companies
Type:Diversified industrial group
Private company limited by shares
Founder:Oleg Deripaska
Location:Moscow, Russia
(Head office)
Jersey
(Registered office)
Key People:Valery Pechenkin
(General Director)
Gulzan Moldazhanova
Industry:Energy, Manufacturing, Financial Services, Construction and Aviation.
Revenue: (2012)
Owner:Oleg Deripaska
Num Employees:Approximately 150,000 (2014)

Basic Element Ltd. (Russian: '''Ба́зовый элеме́нт'''|Bazovy element|ˈbazəvɨj ɨlʲɪˈmʲent, or simply Russian: '''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 (ru|Валерий Печенкин) became the general director of Basel, replacing Gulzhan Moldazhanova (ru|Гульжан Молдажанова). 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:[11]

Machine building sector

JSC Russian Machines was established in 2005 to unite Basic Element's machine building assets.[11]

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.[13]

Basel Aero Airports

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.[11]

Other businesses

Agribusiness

Port business

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.[14]

CEO is Valery Pechenkin.[15]

External links

Notes and References

  1. News: Oleg Deripaska's Basic Element conglomerate now has a former spook as CEO . 16 June 2018 . . 15 June 2018.
  2. US-Finanzministerium 6 April 2018: Treasury Designates Russian Oligarchs, Officials, and Entities in Response to Worldwide Malign Activity, retrieved 9 April 2018.
  3. Web site: Basic Element Company. https://web.archive.org/web/20081210154301/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4516197. dead. December 10, 2008. Business Week. 2009-07-28.
  4. Web site: History of the Russian Aluminium Industry. Rusal.ru. 2 June 2017. 24 May 2017. https://web.archive.org/web/20170524003126/http://rusal.ru/en/aluminium/history/. dead.
  5. Web site: Business. Basic Element. 2014-09-02. https://web.archive.org/web/20140826140246/http://www.basel.ru/en/business/. 2014-08-26. dead.
  6. Web site: Company key facts. Basic Element. 2014-09-02. https://web.archive.org/web/20140826092138/http://www.basel.ru/en/key_facts/. 2014-08-26. dead.
  7. Web site: Basic Element increases assets and revenues. Basic Element. 2014-09-02. https://web.archive.org/web/20150630201240/http://www.basel.ru/sectornews/news_26_06_2008/?ELEMENT_CODE=news_26_06_2008. 2015-06-30. dead.
  8. Web site: Суммарная выручка группы "Базовый элемент" в 2012г. составила 27 млрд долл. . RBC . 2014-09-02 . dead . https://web.archive.org/web/20140715020255/http://www.rbc.ru/rbcfreenews2.shtml?%2F20130621091849.shtml . 2014-07-15 .
  9. News: Rich Russians Sparring With Putin Over $48 Billion Olympics Bet. Bloomberg. 14 January 2016. Stephanie. Baker. Ilya. Arkhipov. 26 November 2013.
  10. News: 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 . Former Deputy Director of the FSB headed the "Basic Element" Oleg Deripaska: The General Director has been replaced at Basic Element. Instead of Gulzhan Moldazhanova, the holding was headed by her deputy Valery Pechenkin, who was the deputy director of the FSB . ru . «РБК» (rbc.ru) . 15 June 2018 . 10 August 2021.
  11. Web site: Business. basel.ru. 2011-08-23. https://web.archive.org/web/20110911090817/http://basel.ru/en/structure/. 2011-09-11. dead.
  12. Web site: Our businesses. enplus.ru. 2014-09-02. https://web.archive.org/web/20140903150106/http://eng.enplus.ru/business/. 2014-09-03. dead.
  13. News: Аэропорты «Базэл Аэро» с января по май 2016 года обслужили более 2,8 млн пассажиров. 14 July 2017. Коммерсантъ. 14 June 2016.
  14. Web site: журнал «Профиль» . Еженедельный . ПОСТПИКАЛЕВСКАЯ РОССИЯ: НОВАЯ ПОЛИТИКО-ЭКОНОМИЧЕСКАЯ РЕАЛЬНОСТЬ . 2024-06-06 . Профиль . ru-RU.
  15. Web site: 2018-06-15 . Валерий Печенкин возглавил «Базовый элемент» Олега Дерипаски . 2024-06-06 . Коммерсантъ . ru.

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