Inteco lady keeps on growing

Inteco lady keeps on growing
01 June 2004

Yelena Baturina, owner of Inteco corporation and wife of the Moscow Mayor, keeps broadening her business empire. Inteco recently bought a 100 per cent stake in Pikalovsky Cement, the largest cement producer in the Northwestern Region, from Metallurg holding managed by Sevzapprom. After this deal, which experts estimate at $30m, Inteco will become Russia’s second largest cement producer.

Formerly, the cement division of Inteco included three plants bought out from Aton investment company. This is Oskolcement (capacity of 3.7Mta), Belgorodsky Cement (2.6Mta) and Podgornensky Cement (420,000tpa).

Inteco presently sells the major part of its cement to Moscow-based developers. Simultaneously, Inteco owns DSK-3, one of Moscow’s largest construction companies. DSK-3 is one of the leading local developers both on the market of panel and monolith housing construction.

Forbes estimates her wealth at $1.1bn -  Can a football club purchase be next on the cards?

Published under Cement News