Yenisey May Study Raising Rail Capacity for Evraz, Severstal
Yenisey Industrial Co. may consider more than doubling capacity of a rail project in Russia’s Tyva region so Evraz Plc (EVR) and OAO Severstal can use it to ship coal.
Yenisey may boost capacity to 37 million metric tons a year from a planned 15 million tons, with the state-backed railroad development scheduled to be completed by 2016, shareholder and Chief Executive Officer Ruslan Baisarov told reporters today.
The company will spend 93.5 billion rubles ($2.9 billion) on construction and is in talks with Evraz and Severstal about their participation, Baisarov said.
Separately, Sberbank may be offered 5 percent to 7 percent in Yenisey Industrial in exchange for loans, he said.
To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net
To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.