September 4, 2014 / 5:42 AM / 3 years ago

Russian Railways may get $2 bln from NWF to buy Mechel rail link - news agency

MOSCOW, Sept 4 (Reuters) - Russian Railways may get 70 billion roubles ($2 billion) from the country’s National Wealth Fund to buy a rail link belonging to miner Mechel, Railways CEO Vladimir Yakunin was quoted as saying by Itar-Tass news agency on Thursday.

He said the deal would allow the state to help indebted Mechel, which has been struggling to get a deal to cover $2.7 billion in loans it has to repay next year.

In March, Russian media reported that Mechel and state-owned Russian Railways (RZhD) were discussing the sale of the 321-km line to the miner’s Elga project for up to 70 billion roubles. (1 US dollar = 36.8600 Russian rouble) (Reporting by Katya Golubkova, editing by Elizabeth Piper)

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