Mongolian Mining Corp. (MOGLF)

[OMOLIVES]

Tavan Tolgoi Railway’ company established

2018-07-10 11:47:59

Ulaanbaatar /MONTSAME/ During the Cabinet’s regular meeting on July 9, it was decided to establish the Tavan Tolgoi Railway company with at least 51 percent of state ownership. The license and assets for the construction of the Tavantolgoi-Gashuunsukhait route railway will be transferred from the ‘Mongolian Railway’ to the newly established company.

The company has been granted a five-year license to build the trackbed for the railway in route Tavantolgoi-Gashuunsukhait. A certain amount of the capital required to continue the construction of the railway will be funded through the pre-sale of coal.

The relevant ministers were assigned to study entities, among foreign investors capable of making transit transportation and advance payments, for making investment to the company and to hold talks and introduce the results to the Cabinet within this year.

With the commission of the 267 km railway in route Tavantolgoi-Gashuunsukhait, it will be possible to export up to 30 million coal annually.

http://montsame.mn/en/read/15924