From the May issue: Yelena Baturina, developer of Moscow’s Project Orange, a complex shaped like pieces of fruit, recently applied for $1.4 billion in government loan guarantees for her construction company, the International Herald Tribune reported. Baturina is the wealthiest woman in Russia, with an estimated personal fortune of $4.2 billion. Her construction company, Inteko, plans to use the loans to replace outdated cement factories and other facilities, the company said in a statement. Russia’s Ministry for Economic Development has asked the company to provide a more detailed breakdown of how it would use the money. Russia’s developers have struggled in the global economic meltdown. Baturina fell off the annual Forbes ranking of billionaires this year, as did the eight other Russian developers. Compiled by Sara Polsky
International briefs: Russia’s wealthiest woman seeks financial aid for project
May 20, 2009 10:09AM
