Krasnodonugol, the coking coal subsidiary of Ukraine's Metinvest Holding, plans to invest about UAH 670 million (approx. $87.75 million) in 2009 in the modernization of existing production capacities and in the improvement of working safety conditions.
Accordingly, in January-May 2009 Krasnodonugol has invested more than UAH 200 million (approx. $26.2 million) in the upgrading of its production, of which UAH 136 million (approx. $17.8 million) has been directed towards the preparation of its four new longwall coal faces and for the equipping of these coal faces, while UAH 18 million (approx. $2.4 million) has been spent on the improvement of working safety conditions.