Metinvest is prepared to transfer 4 billion UAH for the development of the Pokrovskoye Mine Group having purchased a control stake in the company.
When Metinvest bought 24.9% in the company in H2 2018, investments poured into it, which made the company profitable.
“700 million UAH were provided in 2019 to buy new machinery. The staff increased by 300 specialists, and the salary grew by a third. Instead of a net loss of 998 million UAH in 2018, we received 925 million UAH of net profit in 2019. Payments to the budget grew by 25%, to 1.8 billion UAH”, the group reported.
Metinvest will provide $160 million more (over 4 billion UAH) for the development of a coal block No. 11. In fact, a new coal mine with reserves of 34 million tons will be created. (Ukrainian metal)