Neryungri, Russia — September 13, 2012 — Mechel OAO (NYSE: MTL), one of the leading Russian mining and metals companies, reports that Russian Railways OAO’s President Vladimir Yakunin visited Elga Coal Complex’s facilities.
During the working visit, Russian Railways OAO’s President Vladimir Yakunin, together with Chairman of Mechel OAO’s Board of Directors Igor Zyuzin and Yakutugol Holding Company OAO’s managing director Igor Khafizov toured the facilities of the railway linking the Elga coal deposit with Baikal-Amur Mainline’s Ulak station, and examined construction progress at Elga Coal Complex.
Russian Railways’ president voiced high appreciation of the work conducted at the site and noted Mechel’s investment into developing transport infrastructure in Russia’s Far East.
The railway’s construction was one of the hardest and most important stages in developing the Elga coal deposit. Apart from its complexity and scale, this project is unique for the Russian mining industry in that it was implemented by a privately-owned company.
The railway was opened to traffic in December 2011. It was constructed in harsh geological and climatic conditions. The railroad includes 76 bridges, 370 hydroengineering facilities, passing loops, locomotive depots, and a reloading complex. Besides, a highway was built along the railway. The volume of ground and excavation works totals some 80 million cubic meters.
Mechel is one of the leading Russian companies. Its business includes four segments: mining, steel, ferroalloy and power. Mechel unites producers of coal, iron ore concentrate, nickel, ferrochrome, ferrosilicon, steel, rolled products, hardware, heat and electric power. Mechel products are marketed domestically and internationally.