SUEK to consolidate SGK

Сентября 03, 2018

SUEK’s CEO Vladimir Rashevsky noted, ‘The consolidation of coal and power generating assets strengthens SUEK's position as one of the world's largest coal energy companies, while the increased scale and diversification of business expand SUEK's access to capital markets.’

As a part of the group restructuring, SUEK is consolidating Siberian Generating Company (SGK). This measure enables the increase in the operational and financial efficiency of the consolidated company and the ability to respond more flexibly to changes in market conditions and when making strategic decisions.

Integration will also further improve the reliability of the supply of affordable electricity and heating to customers, and will help deliver significant investment projects more effectively both in the coal and energy sectors.

SUEK is one of the world’s leading coal producers, the largest coal producer, supplier and exporter in Russia, as well as a leading heat and electricity producer in Siberia. SUEK’s mining, processing, energy, transport and service facilities are located in 11 regions of Russia. The company employs over 66,000 people. The principal ultimate beneficiary of SUEK is Andrey Melnichenko.