Mechel and BELAZ a joint venture ElgaBelAvto

JSC "Mechel" and of "BelAZ" to announce the signing of the Agreement on the establishment of a joint Russian-Belarusian company OAO "ElgaBelAvto" for the maintenance and repair of mining haul trucks, "BELAZ" in the Republic of Sakha (Yakutia). The company will be located at the site of HC "JAkutugol" is also planned to set up a branch at the Elga section.

It is assumed that "ElgaBelAvto" will be able to fully meet the needs of service of two major coal mines HC "JAkutugol" — Neruyngri and Elgin (more than 140 units of mining equipment in the medium term).

Total investment in the project is estimated at USD 9.5 million by 2018. It is planned to create more than 330 jobs. According to the agreement, "ElgaBelAvto" will start in late 2013 — early 2014. In the future, the joint venture will be able to serve and other consumer appliances brand "BELAZ" in the Republic of Sakha (Yakutia) and the surrounding regions.
 
"BELAZ" — our reliable partner of many years and, today, mining machinery manufactured in Belarus works on all mining operations "Mechel". Creation of a joint service center will allow HC "JAkutugol" reduce the cost of maintenance of equipment and a logistical base for large-scale production increase by HK "JAkutugol" and Elga coal deposit, "- commented Vice President, Business Operations of" Mechel "Michael Urvantsev.

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