The two sons of the Leningrad region governor Valery Serdyukov told about their earnings for the first time. According to experts, Vadim and Denis own a business which is estimated at nearly 3 billion rubles.
The main activity of Serdyukov brothers is concentrated on the the Leningrad region territory. At the same time they both assured the "Business Petersburg" that they had never used the their father’s administrative resources, who became governor in 1999.
Nowadays their companies work in the markets of metal production, power supply, industrial construction, logging and tourism. These industries’ experts claim they are significant players, though in the local scale. Business of the elder brother is estimated at 1.5-2.2 billion rubles, and of the younger - at 320-470 million rubles.
Having had a shared business for a long time, they also developed their own independent projects. However, since 2006 the brothers have divided the business entirely. According to Vadim Serdyukov, in 2007 he was a sole shareholder of ZAO "Vaden" (he had 50% previously). He did not disclose the reasons for separation.
This company manufactures light metal: profiled sheet, power transmission line towers, barrier fences, and roads, etc. Dmitry Kropivnitsky, the head of the RA Steelbuildings said that the company "Vaden" is a major local player, which could cost 1-1.5 billion rubles.
Vadim Serdyukov acknowledges that the company is working quite well: "Today, the power facilities are in process, we gradually provide them with power transmission line towers." The businessman says that his work success is in no way connected with his father: he basically does not work with state orders: "I do not work with state orders at all, never. This is on principle."
However, "Vaden" has been successfully working with contractors who master budget funds. Thus, the company is a supplier of Leningrad NPP-2 (metal cages for the two plants and fences for the road leading to the construction site).
In addition, Vadim Serdyukov owns 50% of JSC" Energy Center" through "Vaden” (the distribution of electricity in the Leningrad region of 4 billion rubles a year) and 15% of CJSC" EFESK "(construction of power facilities). Analysts of investment company "Troika-Dialog” estimated the business at 500 million rubles.
Another company of Vadim Serdyukov - ZAO "Intersolar" is also engaged in large infrastructure projects. Initially the company specialized in logging, now it has subcontracted the construction of the North European gas pipeline.
"We created a strong technical base, which allowed us, for example, to receive the subcontract", said Vadim Serdyukov. The company is paving a glade through the Leningrad region forest for the pipeline and access roads.
Vadim Serdyukov is the owner of some hunting companies also: in 2008 he created two hunting farms, per which of them they had rented 10 thousand hectares of forest land in the Leningrad region. However, he said, it was more of a hobby than a business. "In fact, I do not like hunting," he confessed.
In turn, Denis Serdyukov concentrated his main assets in the holding "TPG Capital". According to the System of Professional Markets and Companies Analysis reports, which the businessman found relevant, this holding includes forest companies in the Vladimir, Rostov, Arkhangelsk, and Leningrad regions. They store up 200 thousand cubic meters of timber per year, some of which is supplied to IKEA.
"Part of it we process on the woods, which we supply to Norway", said Denis Serdyukov. According to Nikita Leonov, a member of the Board of Directors of ZAO “Ilim Timber”, the cost of such business is 40-70 million rubles.
In addition, the holding involves ZAO”Agrofirm Dawn". This company was established in 2005 for the purchase of bankrupt farm "Ilyich" in the Lodeynopolsk area. The farm includes 4.5 hectares of pasture, which Colliers International estimates at 180-250 million rubles. But after 4 years at the farm the livestock number has increased in 17 times, now it is estimated at 30-50 million rubles.
Denis Serdyukov also develops recreational business. He has 64 thousand hectares of hunting grounds, and two camp sites: "A cheerful Elk" (in the Leningrad region) and “A Merchant's manor"(in the Vladimir region). According to the head of the Russia’s Hotel Association office in St. Petersburg Alexei Musakin, this business is worth up to 100 million rubles.
All businesses by Serdyukov brothers can be seen on the scheme.
"Business Petersburg" on 17/03/2010