14:24 23.10.2017

Energy ministry to create National Coal Company in Nov

Energy ministry to create National Coal Company in Nov

 The Energy and Coal Industry Ministry of Ukraine will reorganize and merge state-owned coal enterprises into the newly created state-owned enterprise National Coal Company, and all permits will be re-registered to this company by the end of this year.

This is outlined in the action plan for 2017 to implement the concept for reforming and developing coal industry in Ukraine for the period until 2020 approved in government resolution No. 733 dated May 24, 2017 and published in the Uriadovy Kurier government's newspaper only on October 21, 2017.

According to the document, by the end of the year it is planned to optimize the structure of divisions of National Coal Company, in particular, create design and research centers for servicing and repair equipment, liquidate non-profile assets, conduct a stocktaking of the technological potential of coal enterprise and transfer social facilities to the balance sheet of local budgets.

By early 2018, a comprehensive program for operation of coal enterprises will be drawn up with a list of promising and non-promising coalmines that would be liquidated.

The action plan envisages amendments to the 2017 national budget for allocating an additional UAH 800 million for modernization and re-equipment of coalmines, UAH 100 million for purchase of rescue equipment.

The government also approved drawing up a bill on taxation of enterprises of coal industry.

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