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. Last Updated: 07/27/2016

Rosugol Nixes Program

MOSCOW -- Rosugol, Russia's biggest coal company, has rejected a World Bank reconstruction plan that included a $500 million loan, Interfax quoted the company's first deputy director, Valery Zaidinvarg, as saying Friday.

The plan called for a reduction in coal output, an end to state subsidies and a drastic reduction in the workforce, according to Interfax. The World Bank was to allocate $500 million.