Russian Private Equity Fund to save the coal project of TIG in Chukotka

Russian Private Equity Fund and Baring Vostok Private Equity Fund V (BVPEF) will help to save the coal projects of Australian Tigers Realm Coal Ltd. (TIG) in Chukotka (the total amount - $2.2 billion). TIG has been searching for partners since February having admitted it would not cope with the investment. Now Russian Private Equity Fund and BVPEF will obtain more than 35% of TIG for $48 million. The funds will be spent on the feasibility study of the project, then the company would attract banking financing. The recoupment period of the project will make up 7 years if not much of the coal is cheap, Kommersant reports.