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The coal projects of Magadan attract Japanese business - EastRussia | Far East






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Magadan coal projects attract Japanese business

The government of Japan is ready to finance geological prospecting and design works of joint Russian-Japanese coal mining enterprises in the Magadan region, Kommersant reports.

Magadan coal projects attract Japanese business
Special project Coal of the East of Russia
Japanese businessmen became interested in coal projects in the Magadan region and may enter, in particular, the project of the Omsukchansk coal cluster worth almost 25 billion rubles, which VGK intends to implement. The Japanese market, unlike China and India, is still very interested in Russian coal, experts admit. But amid falling coal prices, investing in such projects will only make sense when the government creates infrastructure for transportation and transshipment, Kommersant writes.

The Japanese government is ready to register joint ventures with Russia for the extraction of coal in the Magadan region and finance their geological exploration and design work. This was stated by the head of the Japanese business delegation, Horiguchi Sinya, during a visit to the region last week. The delegation included representatives of JOGMEC (Japan Oil, Gas and Metals National Corporation), JFE Techno Research and the Institute of Energy Economics of Japan. The authorities of the constituent entity of the Russian Federation offered to the Japanese participation in the projects of North-Eastern Coal Company LLC (SVUK), Kolymskaya Coal Company LLC (COOK), as well as in the development of the Lankovskoye, Melkovodninsky and Chaybukhinsky brown coal deposits with subsequent processing.

SVUK, according to, belongs to the "Eastern mining company" (WGC) Oleg Misevra and Alexander Nesis, LLC CUC controls the "Association of Business Cooperation" local entrepreneur Vladimir Hristov. Over the past year, the WGC has announced several large promising projects. For example, in Sakhalin, the company intends to increase the capacity of the Solntsevo section and modernize the port, the project is estimated at 45,1 billion rubles, most of which should be borrowed funds, including 920 million rubles. From the "Development Fund of the Far East" - the agreement has already been signed. On the Kolyma, the VGK can create the Omsukchan coal cluster.

This requires more than 24 billion rubles., Including 2,7 billion rubles. Need from the budget for the construction of the road.