“Raspadskaya” signed a 5-year contract with Hyundai Steel Company

OJSC “Raspadskaya” announced the signing of a long-term contract with Hyundai Steel Company on the supply of coal products with a gradual increase of annual volumes up to 300, 000 tons linkedg to an international price forming system. Earlier there was signed a memorandum of intentions between Raspadskaya and Hyundai Steel Company.

CEO of CJSC “Raspadskaya Coal Company” G.Kozovoi noted: “The signing of a 5-year contract confirms then intention of the companies to develop long-term cooperation in the coal products supply sector.”

The  ceremony of the signing of a 5-year contract took place on March 5,2013 in Minenergo Russia with the participation of the deputy Minister of Energy of the Russian Federation, A.Yanovsky and the head of coal and peat industry department of the Ministry of Energy of Russia, C.Alekseev.

CEO CJSC “Raspadskaya Coal Company” G.Kozovoy and Vice Chairman andthe  Co-Chief Executive Officer of Hyundai Steel Company, Seung-Ha Park signed the document. The high-quality products will be delivered to Hyundai Steel Company after considering the results of gradual negotiations with a participation of commercial and engineering services of the companies and the carrying out of the testing of the products of Raspadskaya.

http://rosinvest.com/novosti/1022273

Translated by Iraida Idiyatova