Mechel Expands Mining Machinery Fleet at Southern Yakutia Industrial Facilities
OREANDA-NEWS. Mechel PAO (MOEX: MTLR; NYSE: MTL), one of the leading Russian mining and metals companies, reports leasing 18 BelAZ mining trucks as part of an agreement with State Transport Leasing Company for a total of 2.8 billion rubles.
In November and December, Mechel Group’s mining division facilities have signed several agreements with State Transport Leasing Company for financing supplies of 18 BelAZ trucks with a total of 2.8 billion rubles. The financing term is five years. All trucks are already operating.
This acquisition of heavy-load trucks was made in the framework of the program on preferential financing of export industrial products made in Belarus.
The new BelAZ trucks became yet another acquisition that is part of the technical revamping program of Mechel’s mining division. Over 30 mining machines were supplied to Elgaugol OOO and Yakutugol Holding Company AO in 2017.
“We are grateful to State Transport Leasing Company for the superior professionalism and constructive approach they demonstrated as we worked on this deal, and we hope for more mutually profitable cooperation in the future. Expanding our mining and transport fleet in Southern Yakutia will enable us to increase the volumes of coal that is being prepared for mining and, as a result, increase production in 2018,” Mechel Mining Management OOO’s Chief Executive Officer Pavel Shtark noted.
Mechel is an international mining and steel company. Its products are marketed in Europe, Asia, North and South America, Africa. Mechel unites producers of coal, iron ore concentrate, steel, rolled products, ferroalloys, heat and electric power. All of its enterprises work in a single production chain, from raw materials to high value-added products.