Basic Element (company)

Basic Element Ltd. (Russian: Ба́зовый элеме́нт, tr. Bazovy element, IPA: [ˈbazəvɨj ɨlʲɪˈmʲent], or simply Базэл) is one of the largest diversified industrial groups in Russia founded in 1997 and owned by Oleg Deripaska.[1] It is based in the British tax haven Jersey[2] the HQ is in Moscow.[3] It was known as Siberian Aluminum until 2001.[4]

Basic Element Group of Companies
Typediversified industrial group
IndustryEnergy, Manufacturing, Financial Services, Construction and Aviation.
Founded1997 (1997)
FounderOleg Deripaska
Headquarters
Moscow
,
Russia
Revenue27,000,000,000 United States dollar (2012) 
Websitewww.basel.ru

Overview

Basic Element has been managing Oleg Deripaska’s investments into the following six economic sectors - 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, the CIS, Africa, Australia, Asia, Europe and Latin America.[6]

In 2007 the company's revenues were $26.8 bln, growing 45% relative to the previous year. It had $45 bln worth of assets.[7] In 2012 the company's revenues were $27 bln.[8]

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 (Russian: «Базэл») replacing Gulzhan Moldazhanova (Russian: Гульжан Молдажанова) who 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][9][lower-alpha 1]

Operations

Energy and mining sector

En+ Group is Russia-based diversified mining, metals and energy group. En+ Group holds:[15]

  • 47.41% stake in alumina and aluminium producer UC RUSAL
  • 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) aluminum 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.[16]

Machine building sector

The Russian Machines corporation was established in 2005 to unite Basic Element's machine building assets.[15]

Airport management

Basel Aero, a joint venture between Changi Airports International, Basic Element and Sberbank of Russia, is a company-operator of Sochi, Krasnodar and Anapa airports. As of 2015 the company handles 9.5% of total passenger traffic and 3.5% of the total cargo traffic in Russia.[17]

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

Glavstroy Corporation is a vertically integrated construction holding. Management functions are carried out by Glavstroy-Management.[15]

Agribusiness
  • The Kuban AgroHolding
  • AquaDin (LLC), manufacturer of non-alcoholic beverages
  • Voskhod Stud Farm

Port business

Real estate
  • BasEl Real Estate

Notes
  1. Lieutenant General Valery P. Pechenkin (Russian: Валерий Печенкин) was in the Russian intelligence community for 30 years.[9] 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.[10][11] Pechenkin supported Deripaska when Deripaska obtained billions in Russian money from Minatom's uranium deals.[11] He then started working for Deripaska and Deripaska's SibAl.[12] 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.[13][14]

References
  1. "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, abgerufen am 9. April 2018.
  3. "Basic Element Company". Business Week. 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. "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.
  10. 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.
  11. 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.
  12. Лурье, Олег (Lurie, Oleg) (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.
  13. "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.
  14. 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.
  15. "Business". basel.ru. Archived from the original on 2011-09-11. Retrieved 2011-08-23.
  16. "Our businesses". enplus.ru. Archived from the original on 2014-09-03. Retrieved 2014-09-02.
  17. "Аэропорты «Базэл Аэро» с января по май 2016 года обслужили более 2,8 млн пассажиров". Коммерсантъ. 14 June 2016. Retrieved 14 July 2017.
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