Mitsui & Co., Ltd., Japanese major large dealer announced on Tuesday the firm has entered into an agreement with a Russian diversified holding company, United Industrial Corporation (OPK), to confirm that the two companies will advance a feasibility study on the Elegest coalmine project in the Tyva Republic of the Russian Federation.
Elegest coalmine reserves the coal at approximately 900 million tonnes. The Project requires the construction of 460 kilometers of railway. OPK has signed an investment agreement with the Russian Federation, and got the government assistance. Mitsui has the right of the output for coal at 9 million tonnes per year in Australia. The firm will enhance the investment to existing business, and plans to expand the right to 20 million tonnes per year by 2015. OPK was established in 2004 in Moscow, which is operating finance, shipbuilding, aviation, mining businesses. The firm breaks into coal development business.| M | T | W | T | F | S | S |
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