Establishment of CJSC “CHEK-SU.VK” . Viktor Khrolenko and George Ramzaitsev registered the company in the city of Mezhdurechensk in Kemerovo Oblast for the purpose of creating a mining and metallurgical complex in the Siberian Federal District.
The State Committee on Natural Resource Reserves verified the reserves of the Usinsk deposit at 128 mn tons.
In February at the 8th Krasnoyarsk Economic Forum the company signed an agreement of social-economic cooperation with the government of the Republic of Khakassia. In the same year CJSC “CHEK-SU.VK” completed construction of a 47 km road in the republic.
In June 2011 the company started the construction of the 40 km roadway in Kemerovo Oblast
In September the company IMC Montan conducted an assessment of the reserves at the deposit according to international JORC standards. Based on the valuation data , the resources of the Usinsk deposit are sufficient to last more than 100 years.
Construction work started at the Usinsk deposit
In February the company Sinosteel Equipment & Engineering Co. Ltd., one of the leading global engineering companies, was chosen as the EPC Contractor for all of the project’s objects. This Chinese company specializes in design, procurement and construction in the metallurgical, mining, infrastructure and energy sectors. It is currently implementing major projects in many regions of the world.
The project’s end product (manganese metal) is included in the “Action Plan for Import Substitution in Russian Ferrous Metallurgy”, which was approved by the Ministry of Industry and Trade on March 31, 2015.
On May 8, 2015 in the presence of the President of the Russian Federation Vladimir Putin and Chairman of the CPR Xi Jinping, Vnesheconombank and the Export-Import Bank of China signed a contract for opening a credit line for financing the project.
According to the document, Eximbank will provide VEB with 3.9 billion yuan (~40 billion rubles) for a term up to 15 years. It is the first time VEB raises credit funds in the Chinese national currency for the project implementation in Russia.
During the Chinese leader’s visit, CJSC "CHEK-SU.VK” signed a "turnkey" EPC-contract for the construction of all project facilities with Sinosteel Equipment & Engineering Co., Ltd.
The Presidium of the Council of the Development of the Republic of Khakassia, leaded by Chairman of the Government of the Republic of Khakassia considered project materials in November 2015 and acknowledged it as a priority for socio-economic development of the region.