On returning from his self-imposed exile in Turkey to Russia, Telman Ismailov, the owner of AST Group that controlled the Cherkizovsky market, the largest of its type in Russia, which was closed down last year by the authorities, announced his readiness to execute large investment projects across Russia. Specifically, the oligarch is targeting the Chechen Republic and other key cities, notably, in Moscow and Sochi, the host city of the 2014 Winter Olympics, where AST also plans to undertake development projects.
According to analysts, one of the reasons of Ismailov’s temporary migration to Turkey and liquidation of his pet project was his decision to build a five-star hotel in Turkey at the cost of over $1bln. Now, it seems that the prodigal businessman is ready to atone for his ‘waywardness’ by making serious investments in Russia. For example, at a meeting with Chechen President Ramzan Kadyrov, he expressed his intention to study several investment projects so as to choose those to invest in the republic. Besides, at this meeting Kadyrov, who also doubles as the president of Terek, the local football club, announced the appointment of businessman’s son, Sarkhan, the club’s vice president.
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