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Mechel signs agreement with Vnesheconombank

Mechel OAO announces that an agreement between Vnesheconombank and Mechel on allocating the first tranche of the project financing for Elga Coal Complex's first stage totalling $2.5B, was signed in the presence of the Russian Federation's Prime Minister Dmitry Medvedev. The agreement for the $150M tranche was signed by Vnesheconombank's Chairman Vladimir Dmitriyev and Chairman of Mechel OAO's board Igor Zyuzin on the sidelines of the session of the government committee on the Far East's social and economic development, in the presence of Russian Prime Minister Dmitry Medvedev.