10:38 02.09.2020

Cabinet could set up ad hoc group on merger of Centrenergo and state mines on Sept 2

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Cabinet could set up ad hoc group on merger of Centrenergo and state mines on Sept 2

The Cabinet of Ministers intends to create an interdepartmental working group to work out the issue of defining a model of merger with the participation of state coal mining enterprises and PJSC Centrenergo.

The corresponding draft resolution, developed by the State Property Fund, is included in the agenda of a government meeting on Wednesday, September 2.

According to the draft document, the interdepartmental working group is to determine the model for the merger of state coal mining enterprises and Centrenergo within a month.

An explanatory note to the draft resolution notes that the creation of the working group is necessary to optimize the work of Centrenergo, which is the main consumer of coal from state-owned coal mining enterprises, to ensure the work of the domestic coal sales market and the smooth operation of state mines.

According to the authors of the document, the creation of the association will, in particular, help increase the investment attractiveness of Centrenergo in the context of future privatization, planned for 2021, and will also allow abandoning subsidies to the coal industry.

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