Metinvest To Spend USD 92.7 mln To Upgrade Krasnodon Coal
23 March 2008
The metals & mining arm of System Capital Management, Metinvest, will invest USD 92.7 mln for upgrades and development of the Krasnodon Coal Company in 2007. The money will be used to modernize the company and to purchase new equipment. Metinvest believes these upgrades will allow the company to increase extraction by 700 ths mt to 6.4 mln mt in 2007. Krasnodon Coal is one of Ukraine’s largest coal extractors.
