KIEV, Sept. 11 - Ukraine will build five plants that will convert domestically extracted coal into gas to help the country cut dependence on Russian natural gas imports, President Viktor Yanukovych said Tuesday.

At a meeting with government officials and corporate executives in Dnipropetrovsk, Yanukovych said the overall cost of the project is $3.5 billion, and it is due to start later this year.

“I ordered the Energy and Coal Industry Ministry to decide on sites where the plants will be built,” Yanukovych said in remarks released by his press service. “The first installment of financing will be provided in 2012.”

The comments come six weeks after China Development Bank has agreed to lend $3.66 billion to Ukraine for various coal- and gas conversion projects.