Last Updated :
25 January 2012 at 10:30 IST
Russia to invest $120 billion to increase coal output
MOSCOW (Commodity Online): Russian government plans to invest $120.2278 billion (3.7 trillion rouble) to increase the coal output by 30% to meet the growing demestic and international demand.
Presently, the country produces around 336 million tons and with the investment, Russia expects to increase the production to around 430 million tons.
Around $8.188488 billion (252 billion roubles) will be invested by the Central government and rest will be invested by the mining companies, reported RT.com.
Russia has the second largest coal deposit in the world and it accounts for around 157 billion tons, 19% of the world’s total.
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