Ukrainian coal producer eyes $85 mln loan from China Development Bank
Kyiv. September 20. INTERFAX-CHINA - Ukrainian coal producer OJSC Lisichanskugol hopes to secure an $85-million loan from the state-run China Development Bank to finance a pilot project to upgrade the D. Melnikov Mine, the company said in a statement posted on a state purchases web-portal.
It was earlier reported that Ukraine's cabinet provided Lisichanskugol with a state guarantee for a loan of up to $85 million. The main collateral on the loan includes mining equipment and claim rights for revenue from coal sales.
Lisichanskugol has agreed to collaborate with China's Tiandi Science Tecnology Co. Ltd. on the project.
State-owned Lisichanskugol operates four mines located in the Lugansk Region, G. Kapustin, D. Melnikov, Privolnyanskaya and Novodruzhevskaya.