Makhmudov’s ties to Estonia
Makhmudov is probably the most closely associated with Estonia of all Russian tycoons. This is reflected in business ties with Sergei Glinka and Maksim Liksutov who were given Estonian citizenship for special services by PM Andrus Ansip in 2005. The businessmen had a plan for a coal terminal at the Port of Muuga to export coal from the Kuznetsk Basin in Russia, but the grand venture was ruined by the Bronze Night in 2007.
Despite this, Liksutov became a very useful associate for Makhmudov. Liksutov participated, as a junior partner (together with Glinka), in the acquisition of several Russian train car factories and the two businessmen created the airport service rail company Aeroxpress that is still successfully operating in Moscow. Liksutov was crucial for Makhmudov after he became head of transport in Moscow and later deputy mayor (that caused him to renounce his Estonian citizenship in 2012).
As Russia’s leading rolling stock manufacturer, Makhmudov’s Transmashholding is profiting from large-scale subway development in Moscow that began when Liksutov landed in the city government. Makhmudov’s company (owned partly by Glinka) operates rail traffic in and around Moscow and Moscow Oblast, including an inner-city railroad line, serving a total of at least 750 annual passengers.
