Although coal deposits lie within easy reach, the Jewish Autonomous Region of Birobidjan has no money to develop them, according to Tass, the Russian news agency.
There are an estimated 30 million tons of coal, which have already been prospected, in the area of Ushumunsk — enough to satisfy the region’s needs for 30 years, Tass reported.
“By the end of year 1995 we could begin delivering cheap local coal for the Birobidjan thermal power station, district boiler rooms and the population of the Jewish Autonomous Region,” according to Pyotr Rozentul, director of a trading firm called Initiative.
However, Tass said, the regional administration is out of funds to exploit the coal. Money to develop the coal deposits had been expected from local commercial banks.
“But neither the Jewish Investment Bank nor the Kreditprombank and the Bank for Regional Development could allocate, on a share basis, 8 billion to 10 billion rubles for the development of the Ushumunsk coal deposit, as it will yield profits only in three to four years.
“Bankers prefer to invest money in programs which guarantee quick profits,” Tass said.
Birobidjan, established by the Soviets on March 28, 1928, as a Jewish region, is in Russia’s extreme east, just north of the border with China.
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