News

8 February 2019, 16:06

Business

Businesses to invest RUR 170 mln to develop LPR Sverdlovsk district coal production

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LUGANSK, February 8 (Lugansk Media Centre) – Business people are ready to invest 170 million rubles to develop coal production in the Lugansk People’s Republic Sverdlovsk district, district administration head Andrey Sukhachev said at a meeting with LPR Head Leonid Pasechnik.

“We have a nearly 55 percent increase in production and sales compared with 2017,” Sukhachev said. “Higher production targets were achieved as our coal mining companies boosted the output.”

The district currently has some ten small coal-mining businesses; several companies have been unable to begin operation due to the faulty procedure to allow the industrial use of farmland.

“Two investors have been waiting for the procedure to start working, and they (small businesses - eds Lugansk Media Centre) are expected to create about 250 new jobs,” the official said. “They are ready to contribute some 170 million rubles,” Sukhachev said.

“Tax returns in the district increased by 250 million rubles to more than one billion roubles from 2017, he added.

On May 12, 2018, Pasechnik presented the programme of the LPR socio-economic development till 2023 “Our Choice” in his address to representatives of the legislative and executive branches of power. He said that the Republic’s economic efforts would be focused on maintaining and boosting coal production and restoring heavy and light industry enterprises.

LuganskMediaCentre — 08 February — Lugansk