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Mechel OAO BelAZ Create Joint Venture ElgaBelAvto-DJ

Monday, 10 Jun 2013 08:31am EDT 

Dow Jones reported that Mechel OAO and BelAZ OAO announced signing an agreement to create a joint Russo-Belarusian venture ElgaBelAvto OAO for technical maintenance and repairs of BelAZ mining dump trucks in the Republic of Sakha (Yakutia). The enterprise's facilities will be located in Yakutugol Holding Company's production area, and a subsidiary is planned to be created at the Elga Open Pit. ElgaBelAvto is due to fully meet the maintenance needs of Yakutugol Holding Company's two largest coal open pits -- Neryungrinsky and Elga -- which include over 140 mining truck units in the medium run. Investment in the project is estimated to total 9.5 million US dollars before 2018. Over 330 jobs are planned to be created. According to the agreement, ElgaBelAvto will begin working in late 2013- early 2014. In the future, the joint venture may offer its services to other BelAZ customers in the Republic of Sakha (Yakutia) and neighboring regions. 

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26 Dec 2014