Siberia | Industry, manufacturing | Materials, extraction

SUEK puts Tugnuiskaya on hold, awaits better market

5 Mar '09
Siberian Coal and Energy (SUEK) has postponed the launch of its Tugnuiskaya coal-cleaning plant in Buryatia until the end of the year, Kommersant reported today, citing official sources in the governments of Buryatia and Zabaikalsky Region.

The start of operation was reportedly scheduled for Q1 2009.

The plant was originally supposed to be launched in 2007, but deadlines were moved twice after that, the report said.

The decision has been attributed to the current market situation as energy coal prices have nosedived from $200 per ton in July 2008 to $25-30 now.

A SUEK spokesman told media today he was hoping for the facility to start operation this year.
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Tags: Siberian Coal Energy Company (5) / SUEK (24) / coal (202) / Tugnuiskaya coal cleaning plant (0) /

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