GCM Global Energy Plc, controlled by Russian businessman Mikhail Gutseriev, plans to invest in a $1.5 billion project to build potash plant in Belarus, Belta reported, citing Prime Minister Mikhail Myasnikovich.
OAO Sberbank may take a stake in OAO Russneft as part of a deal in which AFK Sistema might acquire 49 percent of the Russian oil producer, Vedomosti said, citing a person close to Russneft founder Mikhail Gutseriev.
Mikhail Gutseriev, who heads Russian oil producer OAO Russneft oil, is in talks to buy the Mari refinery, in Yoshkar-Ola, for about $200 million, Kommersant reported, citing unidentified market participants.
AFK Sistema, the Russian investment group that exited oil producer OAO Russneft for about $1.2 billion this month, will use cash from the sale to increase dividends, billionaire owner Vladimir Evtushenkov said.
President Dmitry Medvedev ’s government has acquired almost 2.5 million acres, an area larger than Cyprus, to promote construction of single-family homes and move Russians out of Soviet-style apartment blocks, the official in charge of the effort said.