The deputy minister of energy and coal industry of Ukraine Dmitry Labozhenko has discussed prospects of cooperation in modernization of state coal companies with the representatives of the State Development Bank of China.
Ukraine has already received Chinese credit to modernize a Lisichanskugol mine ($85 million).
In 2012 Naftogaz Ukrainy signed an agreement with the bank valued at $3.65 billion for the projects of substituting gas with coal. As Ukraine hasn’t started using this money, it now wants to change the project list. The bank representatives agreed to this and await the official Ministry of economical development and trade letter with the new list. (Ukrainian metal)