Company "Mechel", Chairman of the Board of which Chelyabinsk is the oligarch Igor Zyuzin, may lose billions of dollars in tax breaks, if you break the terms of the contract for the development of the Elga coal Deposit.
He noted that in 2019, the expected coal production will reach 5 million tons, while the contract it must reach 20 million tons by next year.
the Elgin field in the South-Eastern part of Yakutia is Russia's largest coking coal Deposit with reserves of 2.2 billion tons Project company "El'gaugol'", the operator in its development, controlled by Mechel ("Mechel" owns 51%, the rest — Gazprombank), received the status of participant in regional investment project in Yakutia in the end of September 2015. As told RBC a source familiar with the project conditions for the years 2016-2018 "El'gaugol '" has invested less than 5.5 billion rubles. It is only about 7% of the total (about 80 billion rubles) of investment promised by the company, he explained. In the remainder of the year, "the'gaugol '" will invest 73 billion rubles.
the Situation is exacerbated by the fact that Mechel is looking for money to buy the remaining 49% of the Elga project from Gazprombank, which got this package in the previous debt restructuring a steel company in 2016, and now decided to sell. In late September, 2019 "Mechel" has received the offer to purchase the shares of Gazprombank, and he has time until January 20, 2020 for the completion of the transaction.
