KIEV, June 12 – Estonia's Viru Keemia Grupp AS (VKG) plans to realize a project worth over $1 billion to develop the Boltyshsky slate coalfield in Kamensky District in Cherkasy region, along with electricity generation projects, the head of the VKG projects, Yuriy Hudin, said at a press conference in Kiev.

He said that the project foresees the creation of a mining company on the basis of field No. 2 of the deposit ($200-300 million), the organization of a slate coal processing plant near it ($400 million), the construction of a power plant with a capacity of 300 megawatt ($350-$400 million) and the development of relevant infrastructure (around $100 million).