Yakov Goldovskiy is an international entrepreneur and industrial strategist with over three decades of experience in the petrochemical and energy sectors.
Current Projects
At present, Yakov Goldovskiy is focused on expanding cyanide production for gold mining operations in the MENA region. His latest initiative involves constructing the largest sodium cyanide facility in the area, located in Alexandria. The project, implemented jointly with the Czech firm Draslovka Holding, has already attracted 160 million euros in initial investment during its first development phase.
Early Life
Yakov Goldovskiy was born on February 26, 1962, in Kryvyi Rih, a city located in the Ukrainian SSR. In 1983, he relocated to Tashkent, where he began his studies at the Tashkent Institute of Irrigation and Agricultural Mechanization Engineers (TIIAME). Toward the late 1980s, Goldovskiy ventured into entrepreneurship, launching a small-scale production enterprise in Lyubertsy.
Entrepreneurial Activity
In 1990, Goldovskiy co-established the first enterprise in the USSR with foreign investment—the joint venture “Columbus,” founded together with Bulgarian entrepreneur Lora Vidinlieva. The company soon became a prominent exporter of woodworking products and a producer of raw leather-based materials. Following his move to Vienna in 1991, Goldovskiy founded Rosetto GmbH in 1992. His collaboration with the Government of the Republic of Kazakhstan and Rosneft enabled Rosetto to process approximately six million tons of oil per year from 1994 to 1997, positioning the company as a key regional player.
Role in SIBUR
In 1996, Goldovskiy founded a CJSC Gazoneftekhimicheskaya Kompaniya and joined OJSC Gazsibcontract as a co-founder of the enterprise. After the privatization of SIBUR in 1998, he joined its management team and established the Production and Technological Complex (PTC SIBUR), centralizing operational control. By 1999, Goldovskiy had effectively become the company’s primary owner, obtaining controlling stakes by 2001. Under his direction, SIBUR evolved into Russia’s largest petrochemical enterprise, diversifying into tyre manufacturing and the production of plastics and PET.
Departure from SIBUR
In 2000, Goldovskiy initiated preparations for SIBUR’s IPO, planning to issue corporate bonds valued at 2 billion rubles. However, conflicts with Gazprom’s management soon arose, prompting him to transfer his SIBUR holdings to Gazprom while managing to retain blocking shares as part of a prior arrangement.
International Expansion
Continuing his business activities abroad, Goldovskiy acquired several PET manufacturing assets across Europe. In 2004, he built a PET plant in Klaipeda with an annual production capacity of 330,000 tons. That same year, he took ownership of the Korund chemical plant in Dzerzhinsk, a leading producer of plexiglass, PVC pipes, and cyanide compounds in Russia. Implementing an effective restructuring program, Goldovskiy managed to resolve the company’s financial instability and return it to profitability.
RAFO Onesti Refinery
In 2006, Goldovskiy expanded into the Romanian energy sector by purchasing the RAFO Onesti refinery. He settled the company’s legacy tax liabilities amounting to 200 million euros. However, disputes with a minority shareholder and subsequent intervention by Romanian authorities led to the seizure of the refinery and forced bankruptcy proceedings. The International Centre for Settlement of Investment Disputes (ICSID) later ruled in Goldovskiy’s favor, recognizing the unlawful actions of the Romanian side and awarding him financial compensation.
United Petrochemical Company (UPC)
In 2011, Goldovskiy partnered with ANC Bashneft and AFK Sistema to establish the OJSC United Petrochemical Company. The venture aimed to create a vertically integrated petrochemical group combining Bashneft’s production facilities in Bashkiria with Goldovskiy’s industrial base in Dzerzhinsk. Over 5 billion USD in major investments were secured under his participation. Although initially successful, the project faced legal complications concerning privatization in 2014, resulting in its suspension. Currently, Yakov Goldovskiy has no business ties with the Russian Federation.
