Putin, who will be standing for president in a March election, said the 252 billion rouble ($US8.17 billion) coal program would be part of an overall 3.7 trillion rouble industry and investment program for the nation that would involve the private sector.

"The overall development of the economy, honourable colleagues and the increased effectiveness of the coal sector ... allows us to draw up such large-scale plans," Putin was reported as saying by Reuters.

He promised to spend about 500 million roubles in federal research and development funds on mine safety this year to help alleviate Russia’s poor record on coal mining safety.

"The funds will be spent on the development and introduction of modern mine rescue and individual protection equipment," Putin said.

Russian coal mines are considered among the world's most dangerous and recorded a 2011 fatality rate of 0.15 for every million tonnes mined, according to figures supplied by Russian industry consultancy Rosinformugol.

Russia is the world's third-largest coal exporter and has opened or expanded a number of Far Eastern ports recently including SUEK's Vanino and Mechel's Posyet.

The country also has a number of new projects being developed to supply this market, such as Mechel's Elga mine in the Sakha Republic as well as a series of undeveloped properties in the southern Siberian Republic of Tuva.

Putin said Russia should be a position to boost its coal exports to Asia, where demand for coal was surging.

"We need not only to maintain our market position but also expand it, particularly in the promising markets of the Asia-Pacific region,” he said.