Posts Tagged ‘fuel company’

Mineral resources

Oil fields Mineral resources

Kalmykia has quite diverse mineral and raw stuffs sources. It is based primarily on oil, gas and mineral deposits providing raw materials for the construction industry, etc.
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FIDE chief Kirsan Ilyumzhinov and Ashmore Group set up a joint fund

Kirsan Ilyumzhinov The President of the World Chess Federation and ex-president of Russia’s Republic of Kalmykia, Kirsan Ilyumzhinov is reportedly going to set up a $10 billion investment fund with UK major Ashmore Group.

Ex-president of Russia’s Republic of Kalmykia Kirsan Ilymzhinov and Ashmore CEO Mark Coombs signed an agreement in London, reports Kommersant Daily. The joint fund would develop projects in Russia, CIS and East Asian countries such as Malaysia, Singapore and Japan, focusing on energy, telecommunications, metals and food industries.

The initial capital of the fund would be $1 billion, and then it would be increased up to $10 billion. The fund plans to attract foreign investment Read the rest of this entry »

The President of the World Chess Federation and ex-president of Republic of Kalmykia Kirsan Ilyumzhinov has bought a 52.5% stake in Bulgaria’s largest fuel company Petrol Holding

Kirsan Ilyumzhinov The President of the World Chess Federation and ex-president of Russia’s Republic of Kalmykia, Kirsan Ilyumzhinov has bought a 52.5% stake in Bulgaria’s largest fuel company Petrol Holding.

Swiss-based Credit Mediterranee owned by Kirsan Ilyumzhinov bought the 47.5% stake owned by Denis Ershov and the 5% stake owned by Alexander Melnik, Vedomosti Daily reports. Ilyumzhinov plans to buy 100% of Petrol and is currently engaged in negotiations with another shareholder Mitko Sabev, who holds a 47.5% stake.

The cost of the deal has Read the rest of this entry »

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