Rostekh may decrease its stake in coal joint venture with Chinese company to 25%

In case of positive market conditions and the successful economics of the development project of the Ogodzhinskoye coal deposit in the Amur region of Russia, the Rostekh corporation can reduce its stake in the joint venture with Chinese company Shenhua to 25%, general director of RT-global resources, which represents Rostekh in the joint venture with the Chinese reported.

"At the same time, state control over the project implementation can be held in different ways within Russian legislation," - Andrey Kolobov emphasized.

Let’s recall that in mid-June of this year, RT global resources with Shenhua signed a Memorandum of Cooperation on the development of the largest coal deposit in the Amur region. The total reserves of the Gerbikano-Ogodzhinsky coal-bearing area is estimated at 1.6 billion tons of thermal coal, and the approximate amount of investments at $5 billion.