The first phase of development of the project Udokan rose by 76% to 238 billion rubles. Total investment in the development of Russia's largest and the world's third largest copper deposit Udokan (reserves - 1.4 billion tons of copper ore) will be 238 billion rubles. ($ 3.7 billion). These funds attributable to shareholders "Metalloinvest" Baikal Mining Company (BGK) will build a road to Udokan, power lines, mining and processing plant 12 million tons of ore per year.

Previously owned by the main "Metalloinvest" Alisher Usmanov said that the cost of the first stage of Udokan is $ 2.1 billion, and the entire project was estimated at $ 5 billion. Thus, investment in the development of the first phase increased by 76%.

Possession Usmanov

In 2008, the license for the project received Udokan Bakal Mining Company, part of the structure of the company "Metallinvest" Alisher Usmanov. And, as they say market participants, the oligarch acquired Udokan aggressive methods inherent in itself. In other words, the rest just want to be "squeezed out" of participation in the project. Having become the sole owner, "Metallinvest" had already in 2015 to implement the first phase of the project. This entry roads, power lines and launch processing plant.

However, it soon became clear that Alisher Usmanov and his grandiose structures melny project alone will not pull. Applicants, of course there were, but it was too high price tags for shares in Udokan, "posted" main beneficiary. Meanwhile, at the very Usmanov things went "into the dressing." Just one year after receipt of the draft he publicly confessed to put it mildly difficult economic situation in its companies.

Usmanov, in particular, he stated publicly that by the time the assets of "Metalloinvest" had virtually disappeared, and the debts of more than $ 5 billion. With the huge losses belonging to businessman working Mikhalkovskaya and Lebedinsky GOK and Oskol Electric Steel Works. The financial "hole" of each of the companies counted in billions of digits in dollar terms. Of course, in such a situation Usmanov desperately needed a respectable companions, but ... always won greed.

We rested in the Chinese wall

A few years ago, "Metallinvest" began to conduct active negotiations to attract Udokan investors abroad. In particular, it seems to be found Parnet business in the face of the Chinese private equity fund Hopu Investments. It has even signed an agreement of intent. The Chinese seem to be committed to buy back 10 percent of shares of the main contractor Baikal Mining Company (BGK). However, at the last moment something does not "grow together".

How much Usmanov requested on those 10 percent of the Chinese, it never openly reported. But how was rumored close to the negotiation process sources, the amount of Bench turned out great, that the partners of China refused the deal and threw all their efforts on the projects of the company "Norilsk Nickel" sworn "friends" Usmanov Vladimir Potanin and Oleg Deripaska.

The road came "not a tablecloth"

It did not happen Usmanov attract to the project and Railways. After all, the planned production capacity in desperate need of railway traffic. But the transport monopoly management showed "Metallinvest" big "fig". As officially stated in the Railways, at his own expense ini roads are not being built. To pay for it should hauliers. But the money for such expensive Alisher Usmanov was not. Or again he did not want to "fork".

"Dead" option Rostec

One potential major investors Udokan is goskopporatsiya "Rostec". The company has a call option in the project. And he, by the way, is neither more nor less than 25 per cent. It is said that Usmanov has repeatedly offered to buy out his. But the leadership of the corporation do not hurry. Probably one of the reasons luzhit also at the financial level. Price painfully exorbitant. A first head "Rostec" Sergey Chemezov and did not suffer a lot of generosity and pay the other does not like.

I do not stand the copper pipes?

Who else today tempted to together in an ambitious project, will not be able to say no one economic analyst. Painfully "cards laid out" not in favor Udokan. Copper prices are falling rapidly, and the exorbitant cost of the project is growing rapidly. Wait in this situation, any assistance to the Russian oligarch is very difficult. As they say today, the total debt of the owner "Metallinvest more than $ 10 million. The principle of life Alisher Usmanov "When money is the main thing" in the case of Udakanom seems, can leave him "with nothing." In this context, it seems very appropriate to give some quotes oligarch just about money and greed.

"Money should not kill conscience. With his conscience I live in harmony. And this is the main purpose of my life. "