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National Coal Company to Unite 33 State-Owned Coal Mines in Ukraine



August 12, 2017 - A concept for reforming Ukraine's coal industry until 2020 approved by the government envisages the creation of state-owned enterprise National Coal Company, which will receive 33 state-owned coal mines, Deputy Prime Minister Volodymyr Kistion said at a first meeting of the interagency working group for settling crisis in coal industry.

"It is easy to solve administrative issues in one state-owned enterprise. Managers will be able to more quickly and easily transfer equipment of unpromising coalmines to other facilities. According to preliminary estimates, the creation of the company will save expenses to maintain lossmaking coalmines in the amount of UAH 1.5 billion a year," the press service of the deputy prime minister reported, citing Kistion.

He said that the National Coal Company is to determine what coalmines are promising and what coalmines require financing for their modernization.

As reported, the Cabinet of Ministers of Ukraine approved the concept for reforming the country's coal industry until 2020 on May 24, 2017. However, the document has not yet been published.