The proceeds of the loan will be employed to improve production capacities as part of the company’s overall modernization program.
First installment of the loan will enable development of Coal Energy’s waste coal recycling and coal processing operations.
A second installment will accelerate the establishment of priority energy efficiency measures and health and safety upgrades.
The project is expected to lead further initiatives for safety in the Ukrainian coal mining sector once completed, while the waste coal recycling business is expected to promote efficient utilization of energy resources, CO2 reduction and recovery of waste dump areas for future use.
EBRD Ukraine country director André Küüsvek stated, "We feel it is very important to support private companies in the Ukrainian coal mining sector committed to introducing modern technologies and improving health and safety standards in the industry."
