According to the “Kommersant”, Yakutugol and Neryungrinskaya motor depot, included in Mechel, established a new structure, named Elga-Road (99% of the shares belong to Yakutugol) in January. Mechel is expected to transfer the railway Ulak – Elga (321 km), connecting the Elga coal deposit with the Baikal-Amur Mainline, to the new company.
The main purpose of the transfer of the railway line is its subsequent sale. However, at first, the shares in the Elga project and the railway will be controlled by Gazprombank. Mechel hopes to reduce the debt through the sale of the railway line to RZD. The construction of the line cost about 70 billion rubles (843 million euros).
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