Yellowknife (Sep 24/03) - Ferguson Simek Clark has struck up a profitable relationship with one of the world's richest men.

Roman Abramovich, the new Russian owner of UK-based Chelsea Football Club, has accumulated a fortune estimated to be worth $8.38 billion CAD.

The 36-year-old Russian is the second wealthiest man in Russia and the world's 49th wealthiest person, reports the Guardian, an influential British newspaper.

In Dec., 2000, Abramovich won 92 per cent of the vote to become governor of Chukotka, and has been pouring money into the isolated province in northeastern Russia.

With a population of 73,000, Chukotka is often compared to the Northwest Territories.

"Dollar-wise it's big business," said Bob Maddigan, an FSC spokesman.

The company has done $50 million in business in the Chukotka region over the past two years and expects to do at least another $30 million in business in the months to come.

The Chukotka contracts amount to between 20 and 25 per cent of FSC International's business, said Maddigan.

FSC International's business block within the region had its origin three years ago with a very small project -- a home built for Abramovich.

This year FSC International built four schools in the region and two sports halls.

Engineering in the area is no easy feat. Maddigan explained the region boasts the strongest winds in the world.

"We've heard of winds topping 250 kilometres per hour and we've clocked them ourselves at 200 km per hour," he said.

Building schools in the region is a high priority for residents because it allows them to keep their children at home instead of sending them away to be educated.

The move into the Chukotka region is part of FSC's plan for expansion.

"We also need to move into Alaska -- it's part of the expansion of our northern design which is unique and wholly set apart from southern design," said Maddigan.