OREANDA-NEWS. September 14, 2009. The Prime Minister Yulia Tymoshenko has commissioned Ministry of Coal Industry in synergy with Ministry of Finance to envisage a separate article of expenses in the draft State Budget of 2010 for modernization of coal branch. She announced during the meeting with heads of scientific institutions and machine-building enterprises that ensure needs of coal industry.

“It will be a separate article, a very detailed one and I would like to ask the Ministry of Coal Industry and Ministry of Finance to work it out,” Yulia Tymoshenko urged and added in 2010 financing of the coal branch was planned to carry out on the basis of principles approved this year for financing of agro-industrial complex and aircraft building domain.

The Premier informed that in 2010 technical re-equipment of mines will be conducted at the account of general funds of the budget and the Stabilization Fund. Besides, according to her, the following year the Government plans to give state guarantees in the amount of UAH 6.5 billion for drawing credits in Ukrainian and foreign banks.

“We plan the following funds in the frames of the Stabilization and general funds: for technical re-equipment – up to UAH 1 billion, for capital construction works including Novovolynska mine number 10 – up to UAH 1 billion, for overhaul – UAH 250 million – and these are the sums which are to be ensured with direct expenses,” Yulia Tymoshenko explained.

According to the Head of Government, the draft State Budget for 2010 envisages UAH 439 million for realization of a plan of overhaul and re-equipment of the branch, notably replacement of old equipment and support of production facilities of mines on the level of 25 million tons in the state sector. “We expect growth of extracting capacities by 7.8 million tons per year, increase of amount of extraction of coal by 1.5 million tons in 2010,” Yulia Tymoshenko informed.