Mechel, one of the leading Russian mining and steel groups, has announced the opening of a tender aimed at securing a Ruble 150 million (approx. $5.15 million) credit line for an 18-month term with maximum interest of 16 percent for Posyet port in the Russian Far East, located on the Pacific coast. The offers will be examined on November 16, 2009.
Accordingly, the funds will be invested in the reconstruction and modernization of Posyet port, following which the port will be able to increase its throughput to seven million metric tons of coal per year. In January-September this year, 2.5 million metric tons of coal were unloaded at Posyet port.