HONG KONG, Oct. 10, 2013 /PRNewswire/ -- Vostsibugol Company (KVSU), a wholly-owned subsidiary of En+ Group, has signed long-term contracts with China Coal and Harbin Railway of China, as well as POSCO of South Korea, to supply the companies with 3 million tonnes of coal over the next three to five years.
KVSU will ship both coking and thermal coal from its mines in the Eastern Siberia region to the Asian companies.
"En+ is strengthening its positions in the Asian-Pacific coal market. We plan to grow our deliveries by five to seven times to Asia within the next five years," said Evgeny Masternak, Managing Director of En+ Group's Coal Business and CEO of KVSU.
KVSU started to supply coal to Asia in 2012, and it targets to ship about 300,000 tonnes to China and Korea in 2013.
