Russia Plans $8 Billion Siberia Investment to Boost Coal Exports
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OAO Severstal, Russia’s second-largest steel producer, is among four companies planning mines and a state-backed railroad in the Siberian region of Tyva that would double the country’s metallurgical coal exports by 2020.
“Annual coal production in Tyva may reach 40 million metric tons in 2020 should all the companies implement the announced plans in full,” Dmitry Sakhno, project manager at Severstal, said in an interview in Moscow. “More than half of these volumes will be exported.”