Rostec, formerly Rostekhnologii is a Russian state holding company that can be characterized as a National Wealth Fund established in late 2007 to promote development, production and export of hi-tech industrial products for civil and defense sectors. It brings together 663 entities which form 13 holding companies. Eight holding companies operate in the defense-industry complex and five of them are involved in civil sectors. Rostec’s organizations are located in 60 constituents of the Russian Federation and supply goods to over 70 countries worldwide.
Rostekhnologii was founded in 2007 as so called "state corporation", a very special type of legal entity in Russia. The state corporation is established by equity contribution made by the Russian Federation. The organization is headed by Sergey Chemezov. Its headquarters are located in Moscow.
The richest wife of a Russian official was Gulsina Minnikhanova, the wife of the president of Tatarstan Rustam Minnikhanov.
The state corporation created a secondary market for disputable equipment.
The court refused Siemens' request for interim measures.
The contract for the supply of 11 Su-35s can be concluded before the end of the year.
The head of Rostec, Sergey Chemezov, and the son-in-law of Russian Foreign Minister Sergey Lavrov, Alexander Vinokurov, whose villas are located so close to each other, decided to seize the country's pharmaceutical market.
State Corporation Rostec will unite its pharmaceutical business with the assets of Marathon Group owned by Alexander Vinokurov. It's planned to finish the deal before the end of the year.
The Russian Ministry of Energy and two Tekhnopromexport companies will be responsible for the delivery of Siemens turbines to the Crimea.
Last week in Russia one of the hottest topics was the problem of Siemens turbines, which had been sneaked into the Crimea quietly. The second most important topic was the search conducted by the FSB in the Ministry of Emergency Situations of the Russian Federation. It is believed that the FSB is trying to put this agency under its control.
Journalists learned that Putin had promised not to use Siemens turbines in the Crimea.
Siemens will not limit its cooperation with Russia.
Roman Filippov, General Director of Power Machines, was detained in St. Petersburg by officers of the Federal Security Service. The date and circumstances of the detention are not yet specified.
The strategic program for the development of the North has been cut by the Russian government by 17 times. At the same time it turned out that the construction of nuclear icebreakers "Arktika", "Siberia" and "Ural" was disrupted because of technical problems that arose after the "annexation" of the subtropical Crimea.
The German concern believes that Tekhnopromexport has misled vendors, and demands to recognize the deal on the delivery of all four gas turbine plants as invalid and return them.
The Federal Security Service and the Prosecutor General's Office will investigate the situation around Russia's atomic icebreaker.
What the scandal with the supply of turbines to the Crimea might mean for Chemezov's Rostec and Siemens.
Rostelec's Russian Helicopters is unsuccessfully looking for approaches to the civilian market. Meanwhile, in Rostec itself thefts are widespread and the budgets are cut.
The Ministry of Defense of the Russian Federation is plagued by corruption and theft. Everything might be stolen: from money to ballistic missiles to military rations. Now the head of the department Sergei Shoigu, who lives beyond his means, is also suspected.
In the case of a bankrupt Podolsky Electromechanical Plant, a new turn has been made - the Russian Criminal Code officially recognized the fact of large-scale theft.
Rostec began searching for an investor for Uralvagonzavod.
His "Marathon Pharma" agreed to buy control in the pharmaceutical company "Fort".
While investors are looking for funds, YotaPhone 3 becomes obsolete with each new day.
But they can be actually German.
Former Defense Minister Anatoly Serdyukov can become the deputy head of the state corporation Rostec.
Said Kerimov's Polyus, which recently received a license to develop Russia's largest gold deposit of Sukhoi Log, warned investors about the risk of losing it. This can happen in the case of the new Western sanctions against its partner in the project, Rostec.
Why Rostec headed by Sergey Chemezov is grabbing a bankrupt plant and how the state corporation will negotiate with Tractor Plants owned by Mikhail Bolotin and Albert Bakov.
The largest Russia's gold deposit was given without struggle to a recently created company SL Zoloto, a joint venture of Said Kerimov's Polyus and Rostec, for 9.4 billion rubles. After the auction, Rostec will get $141 million for 23.9% of the joint venture from its partner.
The most unprofitable bank in 2016, excluding credit institutions rehabilitated, became Jugra Bank, which lost 32.2 billion rubles. Only BM Bank, which is currently under rehabilitation, lost more.
Neither party might have a control stake in the joint venture, and Sistema wants to manage it.