The Far East Development Fund signed an agreement on granting concessional financing to Inaglinsky Mining and Processing Plant of Yakutia in the amount of 4 billion rubles for 10 years at 5% per annum. This is reported by the press service of the Fund.
"The Development Fund of the Far East signed an agreement with Inaglinsky Mining and Processing Plant to provide financing in the amount of 4 billion rubles at 5% per annum for a period of 10 years,” the report said, noting that in January 2018 the company-borrower paid this money for the production of equipment for the plant.
The Development Fund of the Far East added that Inaglinsky is part of a comprehensive project of the Kolmar Group aimed at developing Chulmakan and Denisovskoye fields in Yakutia. The construction of a coal terminal in Muchke Bay is also planned, which will allow reducing the overland transport leg by more than 400 km while exporting products. The total investment in the development of the coal-mining cluster and infrastructure projects will amount to 75 billion rubles.
"Within the framework of the entire project, the construction of a mine, a coal-preparation plant and the necessary infrastructure is planned. In total by 2021 at the Chulmakan and Denisovskoye fields it is planned to produce 20 million tons per year. Total reserves of deposits exceed 1 billion tons of coal,” explained in the message. According to the investor's estimates, the implementation of the project in the period until 2027 will increase the gross regional product of the Republic of Sakha (Yakutia) by 82 billion rubles, will provide additional tax revenues to budgets of all levels in the amount of 13.2 billion rubles and create more than 4,000 jobs, TASS reports.