Albert Avdolyan

Albert Alikovich Avdolyan (born November 8, 1970) is a Russian investor, businessman and philanthropist.

Founder of Yota company, which became the first LTE operator in Russia.

Core assets: A-Property Company, ELSI, “New Home” Fund, Yakut Fuel and Energy Company.

In 2007, Albert Avdolyan, together with Sergey Adoniev, co-owner of Telconet Capital Fund, established Scartel Telecommunications Company.

In 2008, the company was the first in Russia to launch wireless Internet access using WiMAX technology under Yota brand.

The network was deployed in Moscow and St. Petersburg.

In 2009, Yota became available in Ufa, Krasnodar, Sochi, Nicaragua and Belarus.

In 2011, the company became the first LTE operator in Russia.

In 2012, Megafon and Skartel formed Garsdale Services Holding.

In 2013, Albert Avdolyan and Sergey Adoniev withdrew from the capital of Garsdale by selling their own shares to the Holding (Telconet Capital Fund owned 13.5% of Garsdale shares).

In 2017, the Hydrometallurgical Plant suspended its work due to the debts of the previous owners.

In the fall of 2018, Albert Avdolyan entered the capital of a group of enterprises for the production of mineral fertilizers and ligatures (including the Hydrometallurgical Plant, Southern Energy Company and Intermix Met), which is located in the city of Lermontov, Stavropol Territory.

In 2018, a new investor restructured the debts of the enterprise and repaid wage arrears to the plant’s staff.

The plant was restarted on November 14, 2018.

The enterprise carried out modernization] and increased annual revenue.

Subsequently, the group of enterprises was named Almaz Group.

The hydrometallurgical plant was named Almaz Fertilizers, Southern Energy Company was renamed Almaz Energo, and Intermix Met became Almaz Tech.

In 2022, Albret Avdolyan left the fertilizer business, selling it to Almaz Group management.

According to the businessman, over the three years since the restructuring of unique enterprises has been completed, nothing threatens them.

This was the reason to sell the asset.

In 2018, Yakut Fuel and Energy Company began to experience financial difficulties.

The company’s total debt as of October 2018 amounted to RUB 14 billion with EBITDA of RUB 3 billion.

In 2019, Albert Avdolyan’s A-Property entity became the owner of Yakut Fuel and Energy Company (YATEC), which was controlled by Ziyavudin Magomedov.

On January 16, 2019, the Arbitration Court of Yakutia introduced a monitoring procedure for the company for a period of four months, until mid-May.

In September 2019, the Board of Directors of YATEC approved an agreement on the assignment of the company in favour of A-Property[11].

Today, the company is safe from bankruptcy, and A-Property is the majority shareholder, which owns 20.16% of the ordinary shares of YATEC, PJSC.

The new management of YATEC announced plans to invest more than RUB 4.7 billion in industrial safety, ecology, maintenance and repair work and renovation of gas production infrastructure.

Today, the company’s shares are traded on the Moscow Exchange, and the company’s capitalization exceeds RUB 100 billion.

In early 2020, Albert Avdolyan, representing his A-Property Company, acquired 51% of shares in Elgaugol, LLC, Elga-Doroga, LLC and Mechel-Trans-Vostok LLC, from Mechel, PJSC.

These companies are the operators of the Elga coal deposit, one of the largest coking coal deposits in Russia, which is located in the southeastern part of Yakutia.

As soon as the debt remaining from the previous owner to the VEB RF was repaid, the team of Albert Avdolyan began to implement an investment program that provides for an increase in coal mining by nine times, and processing by ten times, as well as expanding the carrying capacity of the Elga-Ulak railway.

In December 2020, A-Property exercised an option to purchase 49% of the Elga project from Gazprombank and became the owner of 100% of the assets of the Elga coal complex.

In July 2022, A-Property Development of Albert Avdolyan completed the consolidation of the shares of Sibanthracite group.

In August 2022, A-Property announced the merger of coal asset management into a single company Elga-Sibanthracite Management Company, LLC (ELSI).

This new company Elga-Sibanthracite Management Company, LLC entered the top three Russian coal mining companies in terms of coal mining and transportation.

ELSI’s assets are located in the Republic of Sakha (Yakutia), the Khabarovsk Krai and Primorsk Krai, Novosibirsk, Kemerovo and Amur Oblasts.

The Elga Coal Complex in the Republic of Sakha (Yakutia) is a group of companies that extract, process, transport and sell coking coal.

The company assets in Novosibirsk and Kemerovo Oblasts include Razrez Kolyvansky, JSC, Razrez Vostochny, LLC, Razrez Kiyzassky, LLC and Razrez Verkhneteshsky, LLC.

In Amur Oblast there is the largest deposit of the Far East - the Ogodzhinskoye deposit.

Port Vera is located in the Primorsk Krai.