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. Last Updated: 07/27/2016

Business in Brief

Gas Transit Fees Set to Rise



Gazprom is seeking a 20 percent increase next year in the fees it charges nongovernment-controlled natural gas producers to use its pipelines, Interfax reported Monday, citing a person familiar with the issue.

Gazprom also petitioned the country's tariff service for a 25 percent increase in wholesale gas prices next year, in line with the government's price-liberalization plan, Interfax said. (Bloomberg)




Armenia Shuts Gas Pipeline



LONDON -- ArmRosGazprom, the largest supplier of natural gas to Armenia, said Monday that it shut the main import pipeline for a six-day maintenance program.

The Trans-Caucasus pipeline will be closed until Sunday, Shushan Sardaryan, a spokeswoman for ArmRosGazprom, said by telephone from the Armenian capital, Yerevan. The shutdown will also halt deliveries of gas to Georgia, she said. (Bloomberg)




Deripaska, Alrosa Eye Coal



Oleg Deripaska may team up with diamond miner Alrosa in the bidding for two coal deposits in Siberia, Kommersant reported Monday.

Deripaska's Basic Element may form a group with state-run Alrosa and Vneshekonombank to bid for Yakutugol and Elgaugol, which the Federal Property Management Agency is scheduled to auction Oct. 5, Kommersant reported, citing an unidentified official at Alrosa. (Bloomberg)




Jet-Fuel Sales Change Hands



Arms trader Rosoboronexport will take over jet-fuel sales at the nation's airports, the company said in a statement Monday.

Rosoboronexport set up a subsidiary to upgrade and expand existing fuel stations and create a service network for commercial carriers, the company said.

"The measures will allow us to stabilize the jet-fuel market and make it transparent," Rosoboronexport said. It will also "bring jet-fuel prices in line with their real cost." (Bloomberg)




Tech Firms Plan Factory



Hewlett-Packard and Foxconn are planning to spend $50 million on building a computer factory near St. Petersburg, said Foxconn's chief in Russia, Andrei Korzhakov, Kommersant reported.

The plant will make Hewlett-Packard computers and liquid crystal monitors, initially for the Russian market and later for export, the newspaper said. Construction of the facility will begin in the fall this year and will take 12 months to complete, Kommersant said. (Bloomberg)




Brits to Get Russian Lingerie



LONDON -- Dikaya Orkhideya, the country's biggest lingerie retailer, will open its first store in Britain under the brand name "Vendetta," the Financial Times reported Monday.

The store will be based in the Bluewater shopping center in Kent, about 30 kilometers east of London. Closely held Dikaya Orkhideya also plans another three stores in London by the end of this year, including one in the center of London, the newspaper said. (Bloomberg)




Lenta Seeks $270M Loan



Retail company Lenta plans to borrow 200 million euros ($270 million) from a group of international banks, Interfax reported Monday, citing an unidentified person from the banking industry.

The firm will use some of the proceeds of the three-year loan to refinance 90 million euros of debt taken out last year, the agency said. (Bloomberg)




Siberian Venture Formed



RusHydro, the country's largest hydropower generator, and financial company Metropol formed a venture to develop electricity and metals projects in eastern Siberia, RusHydro said Monday in a statement.

The venture, Trans-Baikal Development, will mine zinc, copper, gold and lead in the Chita region and the republic of Buryatia. It will also include RusHydro's plan to build a series of hydropower plants on the river Vitim with an initial capacity of 1,410 megawatts, said RusHydro, which was formerly known as Hydro-OGK. (Bloomberg)




Fines at Port Slow Imports



Container terminals at the port of Novorossiisk have come to a virtual standstill after fines were increased for the transportation of overweight cargoes by road, Kommersant reported Monday.

The volume of loads taken from two terminals has fallen by 70 percent since the higher fines were imposed Aug. 11, said Dmitry Bolotov, the port's deputy general director, the newspaper reported. (Bloomberg)




Russian Rails Doubles Net



Russian Railways doubled first-half profit to a record 25.3 billion rubles ($983 million) as it carried more cargo and passengers, Interfax said Monday.

The earnings were calculated using Russian accounting standards, the agency said, citing a company report. (Bloomberg)