President Yanukovych said the Program of Economic Reform foresees deep modernization of Ukraine’s coal industry. Among the priorities are market of energy coal liberalization, improving state support mechanisms, technical re-equipment of mines in order to enhance safety and increase coal production, etc.
Despite the economic crisis, 20% more funds were allocated for the sector was allocated than in 2009, Viktor Yanukovych said. According to him, coal industry funding has increased another 20% this year and a not less increase is planned next year.
"Creating a competitive reformed coal industry will allow us to solve a number of strategic objectives. Modernization of energy production will give a real chance to provide industries and population with coal at normal prices,” President Yanukovych said. “We will also create opportunities for using coal as profitable and, most importantly, affordable alternative to other costly fuels where it is appropriate and possible," he added.
President Yanukovych stressed that modernization of coal industry and new technologies will also allow Ukraine to benefit from the use of additional energy resource – methane gas, as there is about 12 trillion cubic meters of it in the Ukrainian coal bed.
He also stressed that the state attaches importance to attracting investment not only in the coalmines, but also in the infrastructure of mining towns.
"We are working for a long term perspective and are confident that strategic importance of coal industry for our country remains unchanged," the President of Ukraine said.
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