Ukraine expects to attract 1 billion dollars of Chinese investment into its coal industry, President Viktor Yanukovych's press office said. Ukraine is currently looking for investments that will be used to create safe conditions of work in its mines and to ensure there is a gradual transition to the safety standards used by leading European coal enterprises, Yanukovych was quoted as saying. Ukraine has reached agreement to launch a joint pilot project with China to modernize Lisichan-skugol's Melnikov deep mine. The Ukrainian government will provide 85 million dollars in loan guarantees for Lisichanskugol, which produces steam coal at four deep mines in the Luhansk region.
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