It is reported that EDB and Bogatyr Coal LLP have signed a loan agreement providing for investment financing by the bank for the coal mining company.

According to a report of the Eurasian Development Bank EDB will allocate USD 50 million for Bogatyr Coal to purchase equipment and machinery.

The purpose of investment is to develop and modernize the production capacities of the Russian Kazakh enterprises to increase the supply of coal to energy companies of both countries.

An increased coal supply will result in the total volume of bilateral trade between Russia and Kazakhstan to increase by USD 30 million annually.

The enterprise output growth will reach around USD 46 million annually. Bogatyr Coal is the largest coal mining company in Kazakhstan.

(Sourced from caspionet.kz)