Kyrgyz company negotiates to create Joint Venture for coal field development
Azerbaijan, Baku, Nov. 10 / Trend /
The Kyrgyz state-owned enterprise Komur negotiates with the investors from UK and Australia on creation the Joint Venture (JV) for Kara-Keche coal field development, CA-NEWS reported according to the company's Director General Asanbek Moldokeev.
"Four companies are active at Kara-Keche coal field now, including one nationalized company Kara-Keche Komur. The targets set for this company were not met due to shortage of funds", Moldokeev said said on the national channel OTRK.
Moldokeev said the decision on nationalization of all four companies was not implemented yet. The license of the company Demilge was suspended, the license extension is under consideration.
Komur has achieved the target of production of 615,000 tons of coal in 2010.
The company plans to produce 800,000 tons of coal in 2011. The Kara-Keche field produces 40% of coal used in Kyrgyzstan.
Edited by: A.Badalova