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Today in Russian Business

Russian electricity producer TGK-13 plans to float new shares in Russia and abroad. Mining firm Norilsk Nickel has been named in a $178 million pollution suit filed by Rosprirodnadzor, Russia’s environment agency, in its largest ever claim against a metals company. New York-listed Mechel, Russia’s sixth-largest steel maker, plans to spin off its mining assets, including Russia’s largest coal field, to create a company valued at $20 billion. Steel maker Severstal will invest $500 million in a new facility at its main plant to produce beams for Russia’s fast-growing construction sector. Baring Asset Management says Russia is an attractive investment destination, and says that Dmitry Medvedev’s presidency would offer “significant potential”.