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Albert Avdolyan

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Albert Avdolyan
BornNovember 8, 1970
Krasnodar, RSFSR, USSR
Known forinvestor, businessman and philanthropist
Children4

Albert Alikovich Avdolyan (born November 8, 1970) is a Russian investor, businessman and philanthropist. Founder of Yota company, which became the first LTE operator in Russia.[1] Core assets: A-Property Company, ELSI, “New Home” Fund, Yakut Fuel and Energy Company.

Business and investments

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Establishment of Yota

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In 2007 Albert Avdolyan, together with Sergey Adoniev, co-owner of Telconet Capital Fund, established Scartel Telecommunications Company.[2] In 2008 the company was the first in Russia to launch wireless Internet access using WiMAX technology under Yota brand.[3] The network was deployed in Moscow and St. Petersburg. In 2009 Yota became available in Ufa, Krasnodar, Sochi, Nicaragua and Belarus. In 2011 the company became the first LTE operator in Russia.[1]

In 2012 Megafon and Skartel formed Garsdale Services Holding.[4] In 2013 Albert Avdolyan and Sergey Adoniev withdrew from the capital of Garsdale by selling their own shares to the Holding (Telconet Capital Fund owned 13.5% of Garsdale shares)[4].

Hydrometallurgical Plant

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In the fall of 2018 Albert Avdolyan entered the capital of a group of enterprises for the production of mineral fertilizers and ligatures (including the Hydrometallurgical Plant, Southern Energy Company and Intermix Met), which is located in the city of Lermontov, Stavropol Territory. In 2017 the Hydrometallurgical Plant suspended its work due to the debts of the previous owners. In 2018 a new investor restructured the debts of the enterprise[5] and repaid wage arrears to the plant’s staff.[6]

The plant was restarted on November 14, 2018.[7] The enterprise carried out modernization][8] and increased annual revenue.[9] Subsequently, the group of enterprises was named Almaz Group. The hydrometallurgical plant was named Almaz Fertilizers, Southern Energy Company was renamed Almaz Energo, and Intermix Met became Almaz Tech.[10] In 2022 Albret Avdolyan left the fertilizer business, selling it to Almaz Group management.[11]

According to the businessman, over the three years since the restructuring of unique enterprises has been completed, nothing threatens them.[12] This was the reason to sell the asset.

Yakut Fuel and Energy Company

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In 2019 Albert Avdolyan’s A-Property entity became the owner of Yakut Fuel and Energy Company (YATEC),[13] which was controlled by Ziyavudin Magomedov. In 2018 Yakut Fuel and Energy Company began to experience financial difficulties.[14] The company’s total debt as of October 2018 amounted to RUB 14 billion with EBITDA of RUB 3 billion[14]. On January 16, 2019 the Arbitration Court of Yakutia introduced a monitoring procedure for the company for a period of four months, until mid-May.[15]

In September 2019 the Board of Directors of YATEC approved an agreement on the assignment of the company in favour of A-Property[11]. Today, the company is safe from bankruptcy, and A-Property is the majority shareholder, which owns 20.16% of the ordinary shares of YATEC, PJSC.

The new management of YATEC announced plans to invest more than RUB 4.7 billion in industrial safety, ecology, maintenance and repair work and renovation of gas production infrastructure[16]. Today, the company’s shares are traded[17] on the Moscow Exchange, and the company’s capitalization exceeds RUB 100 billion.[18]

Elga Coal Deposit

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In early 2020 Albert Avdolyan, representing his A-Property Company, acquired 51% of shares in Elgaugol, LLC, Elga-Doroga, LLC and Mechel-Trans-Vostok LLC, from Mechel, PJSC. These companies are the operators of the Elga coal deposit, one of the largest coking coal deposits in Russia, which is located in the southeastern part of Yakutia.[19]

As soon as the debt remaining from the previous owner to the VEB RF was repaid, the team of Albert Avdolyan began to implement an investment program that provides for an increase in coal mining by nine times, and processing by ten times, as well as expanding the carrying capacity of the Elga-Ulak railway.[20] In December 2020 A-Property exercised an option to purchase 49% of the Elga project from Gazprombank[21] and became the owner of 100% of the assets of the Elga coal complex.

ELSI Coal Company

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In July 2022 A-Property Development of Albert Avdolyan completed the consolidation of the shares of Sibanthracite group.[22][23][24] In August 2022 A-Property announced the merger of coal asset management into a single company Elga-Sibanthracite Management Company, LLC (ELSI).[25] This new company Elga-Sibanthracite Management Company, LLC entered the top three Russian coal mining companies in terms of coal mining and transportation.[26]

ELSI’s assets are located in the Republic of Sakha (Yakutia), the Khabarovsk Krai and Primorsk Krai, Novosibirsk, Kemerovo and Amur Oblasts.[27]

The Elga Coal Complex[28] in the Republic of Sakha (Yakutia) is a group of companies that extract, process, transport and sell coking coal.

The company assets in Novosibirsk and Kemerovo Oblasts include Razrez Kolyvansky, JSC,[27] Razrez Vostochny, LLC,[27] Razrez Kiyzassky, LLC[27] and Razrez Verkhneteshsky, LLC.[27]

In Amur Oblast there is the largest deposit of the Far East - the Ogodzhinskoye deposit.[27] Port Vera is located in the Primorsk Krai.[27]

The projects owned by the company in the Khabarovsk Krai include Port Vera and the Pacific Railway.[29]

Pacific Railway

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The Pacific Railway (PR) is an infrastructure megaproject of ELSI coal company. The railway line will pass through the territory of the Republic of Sakha (Yakutia) and the Khabarovsk Territory. It will connect the Elga coal deposit with the Port Elga offshore coal terminal near Cape Manorsky on the coast of the Sea of Okhotsk.

The length of the PR will be 531 km.[30] Within the framework of the project, 1 intermediate depot and 18 rail junctions will be built. Taking into account the rail junctions and depots, the “track miles” of the railway track will be 626 km. This is a record value for private railways in the Russian Federation.[31]

The railway facilities are expected to be put into operation in 2026.[30]

The company currently supplies coal to customers via its own Elga-Ulak railway line, which links the deposit with the Baikal-Amur Mainline. As a result of its modernization in 2022, the length of this railway artery has grown to 386 km, and the throughput capacity has increased fivefold. After the construction of the PR and the completion of other ELSI infrastructure facilities in the Khabarovsk Krai, the total length of the railway owned by the company will be about 1,200 km.[32]

The daily traffic on the PR will be 18 pairs of freight trains, the freight traffic will be provided by a rolling stock of 15 locomotives and 1.2 thousand wagons.[33]

Investments in the creation of the Pacific Railway are estimated at RUB 146.6 billion.[33] The project is implemented at the investor’ own cost and expense.

The PR facilities are constructed in difficult climatic conditions and at a great distance from settlements. The implementation of such project is comparable to the start of construction of such facilities as the BAM or the Trans-Siberian Railway.

Charity

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In 2013 Albert Avdolyan founded a Charitable Foundation for Assistance to Disabled Children, Orphans and the Seriously Ill Children “New Home”, with the aim of building an educational complex with a village for foster families “Point of the Future” in Irkutsk.

“Point of the Future” will be the first multifunctional educational complex in Russia for orphans and disabled children.[34] The “Point of the Future” includes a comprehensive secondary school for a thousand students, a centre for social and psychological support, a settlement for families with foster children and a kindergarten.[35] Accommodation in the village and schooling are free. 10 cottages have been built by August 2020.

The first pile into the foundation of the educational complex was solemnly driven on October 11, 2022.[36]

Other charitable initiatives of Albert Avdolyan include the largest private contribution to the fund to help flood victims in Krymsk,[37] assistance to flood victims in Irkutsk,[38] repayment of loans of 78-year-old local historian Svetlana Pshennikova for the publication of a book about fellow countrymen who died in the Great Patriotic War.[39]

Personal life

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Albert Avdolyan is married and has four children.

References

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  1. ^ a b david.nunes (2011-12-22). "Yota launches the first commercial 4G LTE network in Russia". Connect-World. Retrieved 2023-08-13.
  2. ^ ""Мегафон" раскрыл имя секретного совладельца Yota - IKSMEDIA.RU". IKSMEDIA.RU - деловой портал для бизнеса в телекоме, ИТ, медиа (in Russian). Retrieved 2023-08-13.
  3. ^ "Ретроспектива. 10 лет Yota и 10 любопытных фактов о компании". Хабр (in Russian). 2017-06-30. Retrieved 2023-08-13.
  4. ^ a b "У создателя Yota и YotaPhone неожиданно сменились владельцы - CNews". CNews.ru (in Russian). Retrieved 2023-08-13.
  5. ^ "Инвестор градообразующего завода на Ставрополье готов реструктурировать долг предприятия - ТАСС". TACC. Retrieved 2023-08-13.
  6. ^ Перцева, Евгения (2020-02-28). "Гидрометаллургический завод в Лермонтове погасил 36-миллионную задолженность по зарплате". Победа 26 // Новости Ставропольского края. p. 1.
  7. ^ "«ГМЗ» возобновил работу. — Открытый город". 2020-02-27. Archived from the original on 2020-02-27. Retrieved 2023-08-13.
  8. ^ "Лермонтовский ГМЗ вдвое увеличил производство удобрений | Своё ТВ". 2020-02-27. Archived from the original on 2020-02-27. Retrieved 2023-08-13.
  9. ^ Рамблер (2018-12-10). "Новый владелец группы предприятий по производству удобрений на Ставрополье планирует к 2023 г утроить выручку". АгроВестник (in Russian). Retrieved 2023-08-13.
  10. ^ "В развитие «Алмаз Групп» в Лермонтове вложат около 6 млрд рублей". РБК (in Russian). 2019-08-28. Retrieved 2023-08-13.
  11. ^ "Альберт Авдолян продал агрохимбизнес в Ставропольском крае". Коммерсантъ (in Russian). 2022-02-16. Retrieved 2023-08-13.
  12. ^ s.litovchenko (2022-02-16). "Альберт Авдолян вышел из бизнеса по производству удобрений". Алмаз Удобрения (in Russian). Retrieved 2023-08-13.
  13. ^ "Founder of Yota will take away the last asset of Magomedov for debts | Business | RusLetter". rusletter.com. Retrieved 2023-08-13.
  14. ^ a b "Миллионер Альберт Авдолян получил контроль над ЯТЭК". mergers.ru. Retrieved 2023-08-13.
  15. ^ "В крупнейшей энергетической компании Якутии ЯТЭК ввели наблюдение". РИА Новости (in Russian). 2023-08-13.
  16. ^ "Эльгинское месторождение ждет покупателя". Коммерсантъ (in Russian). 2020-01-28. Retrieved 2023-08-13.
  17. ^ "Московская Биржа - YAKG". Московская Биржа (in Russian). Retrieved 2023-08-13.
  18. ^ "Moscow Exchange - YAKG". Moscow Exchange. Retrieved 2023-08-13.
  19. ^ "Мечел продал Эльгинский угольный комплекс А-Проперти". neftegaz.ru (in Russian). 2020-04-22. Retrieved 2023-08-13.
  20. ^ "Инвестор раскрыл планы по развитию Эльгинского месторождения". Коммерсантъ (in Russian). 2020-06-08. Retrieved 2023-08-13.
  21. ^ "Gazprombank completes sale of 49% stake in Elga coal project". AKM EN. 2020-12-02. Retrieved 2023-08-13.
  22. ^ "А-Проперти Развитие" Авдоляна стала владельцем 100% группы "Сибантрацит"". Interfax.ru (in Russian). 2022-07-28. Retrieved 2023-08-13.
  23. ^ "Компания Авдоляна консолидировала 100% «Сибантрацита»". Forbes.ru (in Russian). 2022-07-28. Retrieved 2023-08-13.
  24. ^ "Sibanthracite Group changes ownership". World Coal. 2021-11-01. Retrieved 2023-08-13.
  25. ^ "Владелец "А-Проперти" объединит свои угольные активы в третью по величине компанию в РФ - ТАСС". TACC. Retrieved 2023-08-13.
  26. ^ "Авдолян создаст третью по величине угледобывающую компанию в России". Forbes.ru (in Russian). 2022-08-25. Retrieved 2023-08-13.
  27. ^ a b c d e f g "Overview — Operational assets". ELSI. Retrieved 2023-08-13.
  28. ^ "Elga coal deposit — Operational assets". ELSI. Retrieved 2023-08-13.
  29. ^ "ЭЛСИ раскрывает карты". elsi.rbc.ru (in Russian). Retrieved 2023-08-13.
  30. ^ a b "Железную дорогу для Эльгинского месторождения введут в 2026 году". Новости Якутии и Якутска — свежие новости онлайн на сайте ysia.ru — ЯСИА (in Russian). 2023-02-11. Retrieved 2023-08-13.
  31. ^ "Угольный путь на Восток". elsi.rbc.ru (in Russian). Retrieved 2023-08-13.
  32. ^ "Угольная компания «ЭЛСИ» строит железную дорогу к Тихому океану". Журнал "Глобус: геология и бизнес" (in Russian). 2023-03-08. Retrieved 2023-08-13.
  33. ^ a b "Газпромбанк, «А-Проперти» и правительство Хабаровского края договорились совместно реализовать проект Тихоокеанской железной дороги и порта «Эльга»". Ведомости (in Russian). Retrieved 2023-08-13.
  34. ^ "В Иркутске открылся новый учебный комплекс". Российская газета (in Russian). 2020-09-15. Retrieved 2023-08-13.
  35. ^ ""Такой школы нет нигде»: 10 фактов о «Точке будущего"". SIA.RU. Retrieved 2023-08-13.
  36. ^ "Строительство «Точки будущего» стартовало в Якутии 11 октября". Yakutia.Info (in Russian). Retrieved 2023-08-13.
  37. ^ "Кто дает деньги пострадавшим от наводнения". Forbes.ru (in Russian). 2012-07-18. Retrieved 2023-08-13.
  38. ^ Косов, Семен (2017-06-29). "Концерт Мацуева и вещи от сетей ресторанов: как знаменитости и бизнес помогают пострадавшим от наводнения в Иркутской области". Комсомольская правда.
  39. ^ "Пенсионерку, взявшую кредит на издание книги о ветеранах, спас от долгов бизнесмен". Комсомольская правда. 2019-12-11.
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