From Crimea with money

Reading this article, there is no unambiguous understanding what’s there.

Technopromexport (TPE, a subsidairy of Rostech) is a company building power plants in Crimea. Now it asks for 3 Billion RUB (43 M EURO) extra money. The original total budget of the program of a several power plants was 71 Billion RUB (1,01 B EURO).

Rostech bought TPE a few yers ago when TPE was de-facto the a bancrupt. And how it looks, this was just a way for Rostech to get state money in another direction of the business. TPE has never operated such large amounts in the past. Defenitely this is Rostech deal and protection.

RBC writes that in Technopromexport are currently working about 30 people. I think this is number of employees of the Head Office of Technopromexport in Moscow. Not the tootal number of emploeyees. For instance, a branch of Technoporomexport, which they create on-site at each object (power plant) is about 20-30 people. If it is true and office in Moscow became so small, the Department of Construction Management of  is not able to control the projects. And this project looks fake, what means that TPE is just a formal ‘roof’ of the project. But does not operate the project by itself.

Nevertheless, taking into account how the cost calculation is being usually made by State Expertize, I believe that costs were counted a few years ago and do not include inflation and currency exchange course changes. Despite the State Expertize is very detailed and compex document, in fact this is always a bullshit with no reference to the reality.

So, even there – the management is still poor and ineffective. State-owned business as it is.