Gennady Timchenko will build a hotel for $ 90 million in Syria

The Russian oligarch took up the restoration of the tourist cluster of the Arab economy. Prior to that, he was involved in it with gas and phosphate projects.
Origin source
The Russian company STG Logistic will restore the tourist cluster on the Mediterranean coast in the village of Al-Manara, Tartu province, according to the website of the Arab Socialist Renaissance Party (BAAS, the ruling party in Syria).

Syrian media claim that this will be a joint project of STG Logistic and the Baath Party, and its value is estimated at $ 90 million. According to their data, the Russian side plans to build a five-star hotel on the shoreline in which the shopping center, , swimming pools, children's playgrounds, villas and conference rooms.

May 14, 2018, the first stone of this hotel was laid. The event was attended by the Chief of Police of Tartus, members of the leadership of the branch of the Baath Party in Tartous, and a number of other Syrian government officials, the party website said. The Russian side was attended by STG Logistic CEO Igor Kazak and regional director of this company Zahid Shahsuvarov, it follows from the message of Baath.

Earlier, Kazak and Shahsuvarov worked in the company Stroytransgaz, controlled by businessman Gennady Timchenko: Kazak held the post of deputy general director, and Shahsuvarov - deputy general director of the branch in Syria. According to the SPARK data, Kazak also holds the post of general director of STG Engineering, which previously belonged to Stroytransgaz, but since March 2018 it has been controlled by two structures - Foton Express and Energia Antares, whose ultimate owner is Olga Sakharova. In addition, the Cossack until May, 2017 headed "STG Logistics", which is owned by individuals who are not related to "Stroytransgaz", follows from SPARK.

A representative of Stroytransgaz declined to answer RBC's questions, whether the Cossack and Shakhsuvarov still remain employees of the company. He also did not say whether STG Logistic belongs to Stroytransgaz. According to the Stroytransgaz website, STG Engineering is still in the structure of the company, which is responsible for "implementing projects abroad," but there is no mention of STG Logistic.

Before the war, which began in 2011, the tourist holding of AFK Sistema Intourist together with the group of Sinara Dmitry Pumpyansky gathered to develop tourism in Syria. They planned to invest in their projects in the country for $ 25 million.

Stroytransgaz in 2005-2009 built a gas processing plant (GPP) in Syria with a capacity of 2.2 billion cubic meters. m per year and a gas pipeline. The contractor also started construction of a second gas processing plant with a capacity of 1.3 billion cubic meters. m per year in the vicinity of Rakki. The first phase of the enterprise was introduced in November 2014.

In 2017, as RBC wrote, Stroytransgaz received a contract from the Syria Department of Geology and Mineral Resources to restore phosphate production at the country's largest fields near Palmyra. Syrian authorities also suggested that RZD take part in the restoration of the railway linking phosphate deposits with ports.