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2010 July 2   08:58

Russian Govt eyes a coal terminals project

The Russian government will develop a comprehensive program of construction of coal terminals at Russian seaports, Russian Vice-Premier Igor Sechin said, opening the meeting on the coal industry, Prime-Tass reports.

According to Mr. Sechin, the decision to develop a comprehensive program   for construction of terminals was adopted yesterday during a working meeting in Khabarovsk with Russian President Dmitry Medvedev. The coal terminals will be reportedly built in the Far East, the Barents, Baltic and Black seas. The terminals operations will be coordinated and linked with global hubs. "I think, the Ministry of Transport will start working on this ", said Igor Sechin.

He also said that the coal producing companies had received about 500 million rubles to subsidize interest rates on loans. "I hope that this year we will also continue this work. We, in the government, are discussing this issue", the official said, adding that the govt had also cut tariff rates for transportation of coal.

In 2006-2009 Russian Govt directed over 20bn rubles for rebated tariffs to support Russian export coal producers. In five straight months of this year the amount totaled 3.7bn rubles.

Mr. Seching arrived to Yakutia on working visit from Khabarovsk, where Russian President Dmitry Medvedev held a meeting with Russ. Govt. and local officials to discuss the socio-economic development of the Russian Far East region and strengthening Russia's position in the Asia-Pacific region.

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