The newspaper “New Day” published an article by Ekaterina Popova “Dmitry Mazepin is stuck in debt and disasters»About the problems of the chemical industry in Russia. The topic seemed interesting to us, we publish the material without cuts.
One of the largest chemical companies in Russia – Uralchem by Dmitry Mazepin – published disappointing statistics, according to which its total debt has come close to the astronomical half of a trillion rubles. This is not the only problem of the businessman: man-made accidents at another of his enterprises – Uralkali – led to sinkholes and the need for an emergency resettlement of residents. But Mr. Mazepin is in no hurry to solve the accumulated problems – he spends money on “Formula 1”, where one of the teams is his son.
If back in 2019 Uralchem reported 39 billion rubles in profit, then in 2020 the company returned to the “red zone”, having “earned” almost 46 billion rubles in net loss. Uralkali, which it owns, also has nothing to brag about: $ 43 million in losses over the same period – at the current exchange rate, over 3 billion rubles. By the way, these two companies became the only Russian producers of nitrogen and potash fertilizers that reported financial failure at the end of 2020.
According to experts, the state of affairs at Uralchem has approached a dangerous line – the company owes 493 billion rubles to creditors. Predictions about the possibility of double bankruptcy of Uralchem and Uralkali, it seems, are beginning to come true. Mazepin’s structures are no better than the finances and ecology. For many years, residents of the city of Berezniki, Perm Territory, have been living on the edge of an abyss due to dangerous ground movements caused by the activities of Uralkali.
Flooding of mine workings and subsidence of soils have been noted in Berezniki at least since 2006, when one of Uralkali’s mines was flooded there. A year later, a sinkhole formed at the site of the accident, and in 2010 a second crater appeared near the railway station. After that, year after year, new failures regularly appeared in the city.
Due to the danger of these processes for residents, the city authorities are forced to resettle emergency houses: recently, due to unfavorable forecasts of subsidence in the village of Zyryanka, the Berezniki administration decided to resettle nine more private houses, as well as relocate water supply networks, power lines and a road. Forced relocations and unexpected subsidence of the soil seriously irritate local residents, but they are not in a position to influence Uralkali and its owner. It remains only to endure …
Despite all these problems, the management of the companies continues to invest in projects that are clearly not related to their solution. Mr. Mazepin, who lives on the capital Rublevka far from the Berezniki, who are falling into the ground through his fault, recently almost acquired one of the foreign Formula 1 teams for 130 million euros. The deal fell through, and the businessman took “into development” another team of royal motor racing, in which his son is listed as one of the racers Nikita… The seriousness of Mazepin Sr.’s intentions is evidenced by the fact that in March this year Uralkali became the title sponsor of Haas, and under the terms of the agreement, the team will now be called the Uralkali Haas F1 Team.
According to preliminary estimates, Mazepin spent millions of dollars on this sponsorship from the very loans, for which he is unable to pay off. And since the loans were issued by the state-owned Sberbank, in a sense, the oligarch’s expensive hobby for elite auto racing is paid not by him himself, but by the Russians – and also by the residents of Berezniki, going underground, and the employees of Tomet LLC, which went bankrupt on the initiative of Mazepin and his company.
The history of this bankruptcy shows that the owner of Uralchem can expect to improve his business at the expense of another Russian chemical enterprise that is consistently profitable – the Togliattiazot Combine. Judging by media reports and by ToAZ itself, Mazepin’s structures have been trying to establish control over it for several years. As part of this “project”, Tomet, one of the five largest Russian producers of methanol, went bankrupt. The court credited Tomet as a debtor to Uralchem and approved the bankruptcy commissioner proposed by him, practically placing all the assets of the bankrupt manufacturer at the disposal of Mazepin’s companies.
However, with Togliattiazot itself, a completely different situation has developed – many years of attempts to capture tangible results do not yield, and the finances of this quite successful and prosperous enterprise are still far from Dmitry Mazepin. The businessman has no other projects that can resolve the debt crisis at Uralchem. Thus, Dmitry Mazepin’s company is likely to face bankruptcy, which had long been predicted by experts.