During its session on July 9, Cabinet issued an order to establish Tavan Tolgoi Railway with at least 51 percent of the company's shares owned by the government.
Mongolian Railway Company’s licenses and assets regarding the Tavan Tolgoi-Gashuunsukhait railway project will be transferred to the newly-formed entity, under the condition that Mongolian Railway will own shares of Tavan Tolgoi Railway.
The company will be granted a five-year special license to construct the Tavan Tolgoi-Gashuunsukhait railway. During the session, government ministers were assigned with finding potential foreign investors to purchase the remaining shares, conduct negotiations with them, and report back to Cabinet on their outcomes by the end of this year. Cabinet also voted to establish the Shiveekhuren Railway Company, in collaboration with Nariinsukhait Railway Company.
During its session on July 9, Cabinet issued an order to establish Tavan Tolgoi Railway with at least 51 percent of the company's shares owned by the government.
Mongolian Railway Company’s licenses and assets regarding the Tavan Tolgoi-Gashuunsukhait railway project will be transferred to the newly-formed entity, under the condition that Mongolian Railway will own shares of Tavan Tolgoi Railway.
The company will be granted a five-year special license to construct the Tavan Tolgoi-Gashuunsukhait railway. During the session, government ministers were assigned with finding potential foreign investors to purchase the remaining shares, conduct negotiations with them, and report back to Cabinet on their outcomes by the end of this year. Cabinet also voted to establish the Shiveekhuren Railway Company, in collaboration with Nariinsukhait Railway Company.