Today, B.Batzaya, former Head of the Mongolian Railway, was re-appointed by the State Property Committee. He was previously sacked by Mr. Zayabal, charge de affair of Chairman of the State Property Committee. B.Batzaya sued against this decision and the related court resolved the decision in favour of B.Batzaya. Hence the State Property Committee re-appointed him […]
Category: Infrastructure
"Confidential" Agreement made by the former Minister Battulga is revealed
MP. Khurelbaatar, Chairman of the Cabinet Secretariat of the Government of Mongolia, has confirmed that “secret” agreement, made between Korean side, by MP Battulga, during his service at the Government of Mongolia in charge of Infrastructure, Construction and Urban Development. The agreement was made on the new development of the Mongolian Railway network in the […]
Rio Tinto takes majority stake in Ivanhoe
For the first time in recent memory, a creeping takeover in Canada has succeeded. Rio Tinto Ltd. announced Tuesday it has done the inevitable, boosting its stake in Ivanhoe Mines Ltd. to 51% from 49% and seizing control of the Vancouver-based miner. Rio Tinto can now force changes to the Ivanhoe board of directors, and […]
Government Approves Legislation Regarding the Financial Cooperation between Mongolia and Austria
The Government has approved of a legislation regarding the Financial Cooperation Agreement between Mongolia and the Republic of Austria, and will present it to the Parliament. The agreement will last 2 years and will allow Mongolia to receive up to 40 million euros in loan to spend on specific state departments. Also, a legislation regarding […]
New Railway Project is spurred by the Cabinet
During the regular Cabinet Meeting, MP Kh.Battulga, Minister for Road, Transport, Construction and Urban Development, made presentation on “New railway” project progress and initial financing. Cabinet Meeting instructed Board Directors of Development Bank to transfer the necessary fund for the feasibility study, geological and geodesy and environmental impact evaluation and earth work of the project. […]
Metals Mongolia 2011 forum held
“Metals Mongolia 2011” forum was held on Thursday at the Parliament house and D.Zorigt, Minister for Mineral Resources and Energy gave a speech at the forum. He stated that stability is important in Mongolia’s mining sector. He said Mongolia has abundant mineral resources like Kazakhstan, which has become one of the world’s leading mining countries […]
Coal transportation railway will be complete in 2014
The head of Finance and Investment Office of the Ministry of Road, Transportation and Urban Development, Yo.Manlaibayar, stated railway infrastructure to transport coal from Tavantolgoi deposit mine likely to be finished in 2014 at an investment conference in Hong Kong on October 27. 270 km railway from Tavantolgoi to China and 1100 km railway to […]
New paved roads will be built from Nariinsukhait to Shiveekhuren
State Property Committee Chairman D.Sugar and RDCC Ltd. Executive Director B.Chuluunbaatar, have signed an agreement to build a road between Nariinsukhait and Shiveekhuren. The agreement gives RDCC two years to build the road and 15 years to charge tolls. After that, the company will transfer control of the road to the state without payment. RDCC […]
Mongolia mulls listing of rail stake in Hong Kong
Mongolia is considering a Hong Kong listing of its rail-building firm in a bid to help finance its $5 billion railway plan, the South China Morning Post reported on Friday. Mongolia Railways, the rail-builder owned by the Mongolian government, is planning a domestic initial public offering before turning abroad, pending parliament approval, the paper wrote, […]
Power Plant V bidders to be shortlisted by November 28
During the State Great Khural session, October 14 2011, MP D.Zorigt, Minister for Mineral Resources and Energy, made statement that Power Plant V tender bidders will be shortlisted by November 28 2011 and its winner will sign contract on March 2012. It was answered to the question raised by MP Oyunkhorol, regarding the current electricity […]