11 October 2018

Rashevsky: SUEK’s investment programme will total $2.3-3 billion by 2022

SUEK’s CEO Vladimir Rashevsky told journalists at the press conference called ‘300-Year-Old Kuzbass: 1000 Days. Countdown’ that SUEK’s investment programme will amount to 150-200 billion roubles (about $2.3-3 billion) through 2021, of which 70 billion roubles (about $1 billion) are planned to be invested in coal mining, power engineering and transport infrastructure projects in Kuzbass.

‘The investment programme is subject to adjustments, but in general, the amount of investment that we are planning to make in the next three years is 150-200 billion roubles (about $2.3-3 billion),’ Rashevsky told reporters.

‘We have ambitious investment plans. Over the next three years, we are going to invest more than 70 billion roubles (in Kuzbass - Ed. Note), to deliver a large number of projects in the field of coal mining, power engineering and transport development. Of course, community development projects are also very important to us,’ Rashevsky added.

He noted that for SUEK and SGC, Kuzbass is the key region. ‘We produce (in the region - Ed. Note) 40 million tonnes of coal and generate 80% of electricity in Kuzbass. More than 20 thousand of our employees work there,’ Rashevsky said.

SUEK is the largest Russian coal mining company and one of the ten biggest coal producers in the world. It operates 15 open pits, 12 mines, 9 washing plants and processing facilities, as well as 3 ports in which the company is among the principal shareholders. In 2017, SUEK increased coal production by 2% to 107.8 million tonnes. The main shareholder of the company is Andrey Melnichenko. In August, SUEK consolidated Siberian Generating Company (SGC).

Source: RIA Novosti
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