Ruslan Baisarov - Owner of Tuva Energy Industrial Corp & SK Most Group of Companies
Ruslan Sulimovich Baisarov is a Russian oil, gas, and construction entrepreneur. He is the chairman
and controlling shareholder of the SK Most Group of Companies. He also owns and manages the Tuva
Energy Industrial Corporation, a company currently developing the Elegest coal deposit in the Ulug-Khem coal basin in Russia. Baisarov is listed by Forbes as one of the wealthiest people in
About Ruslan Baysarov
Ruslan Baisarov launched his entrepreneurial career in the 1990s. In the 2000s he entered the oil industry and joined the Russian Fuel Union’s board of directors. One of his most significant achievements during this time was the development of an innovative system to calculate fuel consumption. Baisarov’s companies were responsible for tending to the Moscow Fuel Company’s network of more than 160 gas stations.
In 2011, Baysarov took charge of the Tuva Energy Industrial Corporation and its major infrastructure projects. The company now plans to develop Elegest, Russia’s largest coking coal mine, build a coal port terminal at Vanino Port in Khabarovsk Krai, and build the Elegest-Kyzyl-Kuragino railway, which is to be the longest railway in Russian history.
In 2015, Baysarov acquired 25% of SK Most Group of Companies. In 2016 he became a controlling shareholder in the company (56%) and assumed the post of chairman of the board of directors. SK Most Group of Companies is one of the largest infrastructure construction companies in Russia. It participated in the construction of the second Baikal tunnel as part of the BAM and Trans-Siberian modernization project, and has been working on transitioning Sakhalin region’s railroad on the Far Eastern Railway from a 1,067-mm gauge to the network gauge of 1,520 mm. The large-scale project should be completed by the end of 2019. The transition is expected to increase the volume of cargo transportation to eight million tons per year and shift all coal transportation from road to rail.
In December 2016 SK Most Group of Companies began building a double lane cable-stayed bridge between Blagoveshchensk and Heihe across the Amur River. Russia’s investments in the project is estimated at 14 billion rubles and China’s investment reaches 5.2 billion. Commissioning is scheduled for the end of 2019.
In 2016 Baysarov proposed the creation of a Russian nationwide marketplace similar to the Chinese Alibaba, based on the belief that such a platform would ensure the transparency of the public-procurement system and support small and medium-sized businesses by providing access to foreign and Russian sales markets. He also suggested the development of a payment system that would compete with Visa and MasterCard in the Russian Federation. However, the Ministry of Economic Development rejected these proposals. Later that year Baysarov provided a loan to the PimPay fintech service, which helps online stores attract financing, carry out financial reconciliation processes, track the timeliness of delivery, and conduct logistics related investigative work, in particular with the Russian Post. In September the majority shareholder of the company transferred his share (84.55%) to Baysarov to secure the loan. According to PimPay, as of August 2018, its services have been used by 2,500 online stores, which send about 700,000 orders to customers every month for a total amount of over three billion rubles.
In March 2019, SK Most Group of Companies completed part of the first railway bridge over the Amur River, which will connect Russia and China. The preassembly and installation of a section spanning 132 meters in length and more than 1,000 tons in weight has already been carried out. The total length of the facility will exceed seven kilometer, and the section crossing the Amur will reach 2.2 kilometer. Work is scheduled to be completed in December 2019.
In January 2019, SK Most Group of Companies completed its work on the construction of the Arctic port of Sabetta, part of the large-scale Yamal LNG project, which envisages the launch of a natural-gas liquefaction plant at the South Tambeyskoye field. The new port will ensure the year-round navigation and passage of gas carriers along the Northern Sea Route. As part of the construction of the seaport, the company built a six-kilometer-long access channel and a 49-kilometer-long sea channel near the village of Sabetta.
The construction workers of SK Most Group of Companies, headed by Ruslan Baisarov, has finished the Russian and Chinese parts of the bridge over the Amur river. The bridge will shorten the distance from Russia to China by 1,763 km. The bridge is expected to carry over 20 million tons per year. Back in 2015, Baisarov bought stakes in SK Most Group of Companies in order to implement infrastructure projects like the Elegest-Kyzyl-Kuragino railway, which is being carried out by another construction company owned by Ruslan Baisarov – Tuva Energy Industrial Corporation.