Yenisey Industrial Co. may consider more than doubling capacity of a rail project in Russia’s Tyva region so Evraz Plc (EVR) and OAO Severstal can use it to ship coal.
Yenisey may boost capacity to 37 million metric tons a year from a planned 15 million tons, with the state-backed railroad development scheduled to be completed by 2016, shareholder and Chief Executive Officer Ruslan Baisarov told reporters today.
The company will spend 93.5 billion rubles ($2.9 billion) on construction and is in talks with Evraz and Severstal about their participation, Baisarov said.
Separately, Sberbank may be offered 5 percent to 7 percent in Yenisey Industrial in exchange for loans, he said.
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