Yesterday, the Government issued a resolution to grant the rights of establishing concession agreement with “Northern Railways” to the Invest Mongolia agency.
Invest Mongolia agency was granted the right to establish concession agreement with “Northern Railways” which is to construct 547 km railway between the Erdenet city to Ovoot Deposit.
Erdenet city to Ovoot Deposit railway is considered the future of major railway to the Western parts of Mongolia and it is able to be connected with Russia in further.
Total cost of the railway is at US$ 1.3 billion and it will be raised by the concession owner. Moreover, it is estimated that expenses will be covered after 20 years and the contract term will be 30 year.
In other words, the railway to be transferred into the Government of Mongolia after 30 years.
Deposit at Tsetserleg soum is one of the biggest deposit which has 255 million tons of coking coal reserve which can be increased after geological exploration.
Mongolia ranked at second by its coking coal reserve in the world. Coking coal is the most expensive resources of the world which can be used in the steel industries. Coking coal has advantage of being able to mix with primary coal.
Photo by: B.Byamba-Ochir /mpa.mn/
Yesterday, the Government issued a resolution to grant the rights of establishing concession agreement with “Northern Railways” to the Invest Mongolia agency.
Invest Mongolia agency was granted the right to establish concession agreement with “Northern Railways” which is to construct 547 km railway between the Erdenet city to Ovoot Deposit.
Erdenet city to Ovoot Deposit railway is considered the future of major railway to the Western parts of Mongolia and it is able to be connected with Russia in further.
Total cost of the railway is at US$ 1.3 billion and it will be raised by the concession owner. Moreover, it is estimated that expenses will be covered after 20 years and the contract term will be 30 year.
In other words, the railway to be transferred into the Government of Mongolia after 30 years.
Deposit at Tsetserleg soum is one of the biggest deposit which has 255 million tons of coking coal reserve which can be increased after geological exploration.
Mongolia ranked at second by its coking coal reserve in the world. Coking coal is the most expensive resources of the world which can be used in the steel industries. Coking coal has advantage of being able to mix with primary coal.
Photo by: B.Byamba-Ochir /mpa.mn/