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Basic Element (company)

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Basic Element Group of Companies
Company typeDiversified industrial group
Private company limited by shares
IndustryEnergy, Manufacturing, Financial Services, Construction and Aviation.
Founded1997 (1997)
FounderOleg Deripaska
HeadquartersMoscow, Russia
(Head office)
Jersey
(Registered office)
Key people
Valery Pechenkin
(General Director)
Gulzan Moldazhanova
RevenueUS$27 billion (2012)
OwnerOleg Deripaska
Number of employees
Approximately 150,000 (2014)
Websitewww.basel.ru

Basic Element Ltd. (Russian: Ба́зовый элеме́нт, romanized: Bazovy element, IPA: [ˈbazəvɨj ɨlʲɪˈmʲent], 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

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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 (Russian: Валерий Печенкин) became the general director of Basel, replacing Gulzhan Moldazhanova (Russian: 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][a]

Operations

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Energy and mining sector

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En+ Group is Russia-based diversified mining, metals, and energy group. En+ Group holds:[16]

Machine building sector

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JSC Russian Machines was established in 2005 to unite Basic Element's machine building assets.[16]

Airport management

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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

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Financial services sector

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Basic Element has been managing Oleg Deripaska's personal stake in the amount of 10% of Ingosstrakh's ordinary shares.

Construction sector

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JSC Glavstroy is a vertically integrated construction holding corporation. Management functions are carried out by Glavstroy-Management.[16]

Other businesses

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Agribusiness

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Port business

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  • Imeretinsky Port, Sochi

Real estate

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  • BasEl Real Estate

Owners and management

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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]

Notes

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  1. ^ Lieutenant General Valery P. Pechenkin (Russian: Валерий Печенкин) was in the Russian intelligence community for 30 years.[10] He was the head of the FSB directorate for the Novosibirsk Oblast before becoming in charge of counter intelligence as the deputy director of the FSB from 1997 to 2000.[11][12] Pechenkin supported Deripaska when Deripaska obtained billions in Russian money from Minatom's uranium deals.[12] He then started working for Deripaska and Deripaska's SibAl.[13] Valery Pechenkin headed the security services of the Mikhail, Lev, and David Cherneys-Deripaska-Makhmudov-Tokhtakhunov and the Sergei Aksyonov (Russian: Сергей Аксёнов), Sergei Popov (Russian: Сергей Попов), and Anton Malevsky (Russian: Антон Малевский) associated Izmaylovskaya and Podolskaya Bratvas. Pechenkin has former heads of both the FSB and the Ministry of Internal Affairs (Russian: Министерство внутренних дел) working in these private security services.[14][15]

References

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  1. ^ a b "Oleg Deripaska's Basic Element conglomerate now has a former spook as CEO". «Медуза». 15 June 2018. Retrieved 16 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. ^ "Basic Element Company". Business Week. Archived from the original on December 10, 2008. Retrieved 2009-07-28.
  4. ^ "History of the Russian Aluminium Industry". Rusal.ru. Archived from the original on 24 May 2017. Retrieved 2 June 2017.
  5. ^ "Business". Basic Element. Archived from the original on 2014-08-26. Retrieved 2014-09-02.
  6. ^ "Company key facts". Basic Element. Archived from the original on 2014-08-26. Retrieved 2014-09-02.
  7. ^ "Basic Element increases assets and revenues". Basic Element. Archived from the original on 2015-06-30. Retrieved 2014-09-02.
  8. ^ "Суммарная выручка группы "Базовый элемент" в 2012г. составила 27 млрд долл". RBC. Archived from the original on 2014-07-15. Retrieved 2014-09-02.
  9. ^ Baker, Stephanie; Arkhipov, Ilya (26 November 2013). "Rich Russians Sparring With Putin Over $48 Billion Olympics Bet". Bloomberg. Retrieved 14 January 2016.
  10. ^ a b "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]. «РБК» (rbc.ru) (in Russian). 15 June 2018. Retrieved 10 August 2021.
  11. ^ Прянишников, Пётр (Pryanishnikov, Pyotr) (1 February 2001). "Атака на призраков: Бывшие сотрудники КГБ разработали план борьбы с нынешними сотрудниками ФСБ" [Attack on ghosts: Former KGB officers develop a plan to combat current FSB officers]. "Версия" (Versiya) (in Russian). Retrieved 10 August 2021. Archived at compromat.ru on 1 February 2002.{{cite news}}: CS1 maint: multiple names: authors list (link)
  12. ^ a b Хотенков, Игорь (Khotenkov, Igor) (16 January 2003). "Теневой кардинал "СИБАЛа": Истории из жизни тайного советника Олега Дерипаски" [Shadow Cardinal "SIBAL": Stories from the life of Privy Councilor Oleg Deripaska]. compromat.ru (in Russian). Retrieved 10 August 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  13. ^ Лурье, Олег (Lurie, Oleg) [in Russian] (16 January 2003). "СВИДЕТЕЛЬ ОБВИНЕНИЯ ╚РУССКОЙ МАФИИ╩: РАЗЫСКИВАЕТСЯ РОССИЕЙ ЗА РЯД УГОЛОВНЫХ ПРЕСТУПЛЕНИЙ" [WITNESS FOR THE PROSECUTION OF THE ╚RUSSIAN MAFIA╩: WANTED BY RUSSIA FOR A SERIES OF CRIMINAL CRIMES]. «Новая газета» (in Russian). Archived from the original on 2 April 2003. Retrieved 10 August 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  14. ^ "КОЛУМБ ОТКРЫЛ АМЕРИКУ: Итальянские злоключения Тайванчика" [COLUMBUS DISCOVERED AMERICA: The Italian misadventures of Taiwanchik]. la Repubblica (in Russian). 7 January 2003. Archived from the original on 17 April 2003. Retrieved 10 August 2021 – via vandy.ru. Alternate archived on 17 January 2003.
  15. ^ Бонни, Карло (Bonni, Carlo); Д'Аванцо, Джузеппе (D'Avanzo, Giuseppe); Иванидзе, Владимира (Ivanidze, Vladimir) (7 January 2003). "Итальянские злоключения Тайванчика: Вот секреты грязных российских денег в Италии" [Italian Misadventures of Taiwanchik: Here are the secrets of dirty Russian money in Italy]. compromat.ru (in Russian). Retrieved 10 August 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  16. ^ a b c "Business". basel.ru. Archived from the original on 2011-09-11. Retrieved 2011-08-23.
  17. ^ "Our businesses". enplus.ru. Archived from the original on 2014-09-03. Retrieved 2014-09-02.
  18. ^ "Аэропорты «Базэл Аэро» с января по май 2016 года обслужили более 2,8 млн пассажиров". Коммерсантъ. 14 June 2016. Retrieved 14 July 2017.
  19. ^ журнал «Профиль», Еженедельный. "ПОСТПИКАЛЕВСКАЯ РОССИЯ: НОВАЯ ПОЛИТИКО-ЭКОНОМИЧЕСКАЯ РЕАЛЬНОСТЬ". Профиль (in Russian). Retrieved 2024-06-06.
  20. ^ "Валерий Печенкин возглавил «Базовый элемент» Олега Дерипаски". Коммерсантъ (in Russian). 2018-06-15. Retrieved 2024-06-06.
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