Vorkutaugol in 2016 it wants to increase investments to 26%

Vorkutaugol in 2016 it wants to increase investments to 26%


Thus, the volume of investments will amount to about 6.7 billion rubles, of which 3.4 billion will be spent on the carrying out of mining works and construction of new ventilation shafts of the mines.

MOSCOW, 24 Feb. The volume of investments of JSC Vorkutaugol (part of Severstal) in 2016 will grow by 26% compared to 2015 year and will be about 6.7 billion roubles, is spoken in the message of the company.

Most of the funds — 3.4 billion rubles, will go on carrying out of mining works and construction of new ventilation shafts of the mines. Another 2.5 billion rubles will be spent on maintaining production: longwall equipment, technical re-equipment of the excavation works, the upgrading and replacement and mine conveyor transport, replacement of fixed assets.

The development of production in 2016 will be sent to 727 million rubles. Among the major projects — development of the South-Western block of the mine “Vorgashorskaya”, the development of the Vorkuta transport enterprise, the completion of modernization of the Central concentrating mill “Pechorskaya” and the purchase of mobile maintenance module for heavy vehicles.

In projects on creation of safe working conditions Vorkutaugol will invest over 160 million rubles, said in a statement.

“Investment growth in 2016 is associated with the increase in the volume of capital construction. This will allow our company to prepare the necessary infrastructure for testing advanced coal reserves”, — said the head of the Department for investment “Vorkutaugol” Alexey Capeskin, quoted in the message.

Vorkutaugol is one of the largest mining companies in Russia, and in the mining division of Severstal. The company operates on the territory of the Pechora coal basin. The volume of coal production in 2014 amounted 11,36 million tons.