2000-02-07 Kazak Corporate News - Bogatyr Access Komir
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Bogatyr Access Komir
Bogatyr Access Komir, the local arm of the US-based Access Industries, plans to turn out some 35 million tonnes of coal at the Bogatyr and Severniy coal mines this year. The projected total is a six million tonne increase over its 1999 production.
Both of these Kazakhstani open pit coal mines may become units of the UralTEC joint venture, which Access Industries is working to establish along with the Russian power company UES Rossia. UES already owns the Severniy mine, which Access manages in trust. The UralTEC venture would also include three UES power plants in the Russian cities of Troitsk, Reftinsk and Verkhnetagil.
The Russian side optimistically believes that Ural TEC will boost coal production by 5.3%, reduce coal costs by 7.5% and increase power generation at the three power plants by 15%, while lowering the power costs by 8.6%. (Golden Eagle Partners)