MOSCOW, October 25. /TASS/. Russia’s Energy Ministry is observing a decline in investment in the coal industry due to falling company profits, but their current volume allows the industry to maintain production levels, Energy Minister Sergey Tsivilyov stated in an interview with TASS.
"Yes, we are indeed observing a slight decline in investment due to falling company profits and an increased financial burden. High lending rates are also not helping. Nevertheless, even with all the difficulties, the current investment volume exceeds 2020-2021 levels and allows us to maintain production at the same level," he said.
Earlier, in an interview with TASS, Deputy Energy Minister Dmitry Islamov reported that investment in Russia's coal industry this year will be lower than last year's level of 248 billion rubles ($3.06 bln) due to the crisis in the industry. The main decline in investment is due to a reduction in available financing and the need for companies to optimize their expenses.