Inteco (Интеко in Russian,
"Inteko") is a Russian construction
company, 99% of which is owned by Yelena
Baturina, Russia's richest woman and wife of Moscow city mayor,
Inteco was founded by Baturina along with her brother Viktor Baturin
, in 1991. Originally it was a
plastics company. It was awarded the contract to produce seats
Stadium, Moscow's largest stadium, in 1995.
produced allegations of corruption since Baturina's husband,
, became Moscow city
mayor in 1992 - a position he still holds. Also in 1995 Inteco was
awarded the contract to produce plates for Russkoe Bistro
, a fastfood
chain set up by Luzhkov and owned by
Moscow city authorities. Later Inteco moved into the construction
trade, despite Baturina stating that this would be a conflict of
interests: "as the mayor’s wife I have to be very careful not to
hurt my company’s reputation". Inteco became very successful and at
one time produced 20% of all new buildings in the capital. Inteco
have stated however that: "All tenders won by Inteko were awarded
according to federal and municipal laws."
In 2005 Inteco sold its concrete
(which accounted for a third of company revenues) and DSK-3
, a producer of prefabricated
buildings, for $1.1 billion.
bought the concrete business
for 3-5 times the going market price. PIK
bought DSK-3. The reason for the sale was thought to be
the impending end to Luzhkov's term in office.
Baturin's legal action
In 2007 Viktor Baturin sued Inteco for $120 million due to alleged
wrongful dismissal. He was fired in 2005 and his 1% share of the
company bought by Inteco for $21 million. Baturin insists however
that his share was in fact 25% - until it mysteriously disappeared
in 2002 or 2003.
Subject of violence
On October 9 2005 executive director of Inteko-agro Alexander Annenkov
was attacked by three
assailants armed with axes. He survived.
On October 13 2005, Inteco lawyer Dmitry Steinberg
was shot at the entrance
to his house. Baturina attended his funeral.