Former Kalmykian President to Invest in Estonia ({{commentsTotal}})

Source: Photo: Reuters/Scanpix (Arben Celi)

The former president of the Russian Republic of Kalmykia and current chairman of the international chess federation IFDE, Kirsan Ilyumzhinov, has reportedly confirmed plans to invest in Estonia.

Without specifying the name of the company, Ilyumzhinov said the factory he plans to invest in produces fire-extinguishing powders and chemical substances, reported Äripäev.

It is the second instance in recent days of a high-profile chess figure cementing ties with Estonia. Garry Kasparov said earlier this month that he is seeking an apartment in Tallinn.

During Ilyumzhinov's visit in Tallinn last week, he also met with Deputy Mayor Mihhail Kõlvart and MP Andrei Korobeinik, the president of the Estonian Chess Federation.

Ilyumzhinov ruled the federal republic as an autocrat for 17 years, until 2010. He was the national champion of Kalmykia at the age of 14 and is well known for making chess mandatory in schools. He has a reputation for being an eccentric and is also noted for befriending the former Libyan leader Muammar Gaddafi.

Having started his business career importing cars to Russia in 1989, Ilyumzhinov now  has investments that include a major railroad project in Mongolia as well as interests in Azerbaijan, Vietnam and Cambodia.