Cabinet of Ministers plans to provide funds for coal mine modernization
8 July 2008
The Cabinet is planning to provide guarantees in the amount of UAH 3.1 bln (USD 639.2 mln) to coal enterprises for loans for coal mines’ modernization, the Cabinet of Ministers’ press office said today. All Ukrainian thermal power plants are planned to change gas for coal as fuel by the beginning of this winter. Inna Perepelytsya: The sum of expected loans is two times more than budget financing of state mines for equipment purchases in 2007. As new equipment orders by state mines would be to Ukrainian coal machinery manufacturers, we view this news as positive for all four sector plays: Druzhkivka Machinery (DRMZ: BUY), Dongirmash (DGRM: U/R), Svitlo Shakhtarya (HMBZ: U/R) and Yasynuvatsky Machinery (YAMZ: BUY).
