Moscow press review for November 2, 2011
MOSCOW. Nov 2 (Interfax) - The following is a digest of Moscow newspapers published on November 2. Interfax does not accept liability for information in these stories.
VEDOMOSTI
Polymetal could again delay the launch of its major project, the Amur Hydrometallurgical Combine in the Khabarovsk territory, Polymetal International warned in a memorandum to its recent IPO. It did not specify how long the delay could be. When Polymetal had delayed the combine's launch in April, it said the enterprise should start operating by the beginning of 2012. A Polymetal spokesperson insisted that the schedule is being observed, as the equipment's delivery has been completed and it is being tested now, the start of the commissioning tests is planned for mid-December, and first gold should be produced in the first quarter of 2012. A source close to the IPO said the placement organizers decided to mention the possibility of the delay because this already happened in the past. ('Amur Pause')
The former co-owners of Transgarant, Sergei Smyslov and Sergei Gushchin, have set up a new railroad operator, Rail Garant, in the five years since the company was sold to Sergei Generalov. The new company's fleet is more than twice as large as Transgarant's: as of the end of the third quarter of 2011, Rail Garant owned 33,000 railcars, a company spokesperson told Vedomosti. Rail Garant's car fleet has grown by 50% since the start of the year, and most of these cars are open cars (20,000), whose number has grown by 170% in this period. Raiffeisenbank analyst Konstantin Yuminov valued Rail Garant at $400 million-$600 million. ('Returned To Track')
KOMMERSANT
Four Russian companies, i.e. Lukoil , TNK-BP, Zarubezhneft, and Bashneft , are considering the opportunity of bidding in a tender for nine blocks on the Vietnamese shelf. Lukoil, TNK-BP, and Zarubezhneft are already operating in Vietnam. As for Bashneft, this could be its first shelf project, although it has already doubted its prospects. (Page 11, 'Oilmen Attracted By Vietnam')
Kommersant has learned from a report by Trafigura, one of the least transparent international traders, that it is a co-owner of oil transshipment facilities in the Murmansk region. The Dutch company was earlier known in Russia for its only investment in the Russian economy: the trader reportedly bought 8% in Norilsk Nickel at the end of 2010 or in early 2011, although the metallurgical company's auditor does not believe this. Trafigura did not mention such a major asset in its report either. (Page 9, 'Trafigura Comes To Surface In Fishing Port')
Kommersant has learned that the number of bidders for buying up to 100% in Russia's major railroad transporter of liquefied hydrocarbons SG- Trans from the state grew to ten from three on the last day when preliminary bids were accepted. Among the bidders are affiliates of Gazprom , Rosneft, and TNK-BP and several independent transportation companies. (Page 11, 'SG-Trans Hits Ten')
Telenor believes that the sale of nearly 6% of Vimpelcom's voting shares to Rusnano board member Oleg Kiselyov was fictitious, as it was financed by the seller itself, i.e. Alfa Group. The transaction serves as grounds for adopting Vimpelcom's new charter, which should reduce the Norwegian holding's influence on the company management. Telenor is now seeking to preserve the previous shareholder agreement. (Page 9, 'Altimo Addressed By Charter', see also Vedomosti, 'Alfa Accused Of Pretence')