EBRD to loan Sadovaya Group up to USD 36 mln for coal recycling

The European Bank for Reconstruction and Development is planning to allocate up to a USD 36 mln loan to help Sadovaya Group (WSE: SGR PW, N/R) establish a coal recycling business to produce energy coal from waste dumps and tailing ponds in Eastern Ukraine, the EBRD said in a project announcement published yesterday. Total project cost is expected to be up to USD 48 mln. The project is due to be reviewed by the EBRD board on November 22.