News agency 'Vchasno'

China Will Help Modernize Coal Enterprises of Donbass

Chinese companies expressed interest in modernizing Ukrainian coal enterprises, among which mines of Donbass may be.

That the Chinese will take part in the process of modernization of the Ukrainian coal industry it became known during the visit to the People’s Republic of China of representatives of the Ministry of Energy and Coal Mining of Ukraine, IA “Vchasno” reports with reference to the Ministry of Energy and Coal Mining.

Negotiations were conducted with the company “Sany Heavy Industry”, as a result of which agreements were reached.

During the meeting, the Ukrainian delegation noted that in Ukraine modernization of the mining fund and technical re-equipment of production is planned, also the attraction of investment resources for the development of enterprises, labor collectives, mining towns and settlements is planned.

As a result of the negotiations, a Memorandum of Cooperation was signed in the field of modernization of the coal industry.

As previously reported, for today in Ukraine a targeted credit line for coal-mining enterprises under state guarantees in the amount UAH 300 million has already been allocated for the introduction of new mine faces. About 190 million of these have been utilized and tenders for 110 million are expected to be held. In addition, it is expected that the parliament will provide state guarantees for UAH 1 billion - for similar purposes.

State-owned enterprises “Toretskugol” and “Pervomaiskugol” from Donetsk and Lugansk regions headed the list of the most unprofitable in the coal industry in Ukraine this year.