DTEK, the Ukrainian fuel and energy market company, has announced the formation of DTEK Trading Ltd, a wholly owned subsidiary that will undertake coal trading operations in the domestic and international markets.
DTEK’s coal is currently consumed by thermal power plants, coking and chemical plants and steel mills in Ukraine, as well as being exported to power plants and industrial enterprises in Turkey, Poland, Bulgaria, Romania, and Lebanon.
In a statement, DTEK said that it has identified the need to build an efficient sales function as one of its strategic priorities and that the establishment of DTEK Trading will facilitate the development of the company.
Igor Koshelev, who has been appointed the director of DTEK Trading Ltd., said: ”The establishment of a dedicated trading function will enable us to provide a more efficient sales function, secure additional margin from commercial operations, strengthen DTEK’s position in the Ukrainian coal market and, most importantly, increase DTEK’s sales to foreign markets.”
The current surplus of coal in Ukraine provides an incentive for DTEK to be proactive in export markets. By the end of this year, the company expects to have exported about 1 mt of coal, up from the 160,000t it exported in 2008.
