Sainshand industrial park to be financed by government

Mar 4 • Business, Government, News • 5334 Views • No Comments on Sainshand industrial park to be financed by government

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The Cabinet meeting of Mongolian government held on Saturday, March 02, discussed a number of critical issues including the funding for the much awaited Sainshand industrial park. The Minister for Industry and Agriculture was tasked to make the necessary amendments in the related laws and regulations so that “Sainshand Industrial Complex” LLC, a state owned company, is established with at least 34% of its shares, owned by the government and the rest to be distributed to private sector. Also, it was agreed that the Development Bank finance MNT 14.1 Billion for environmental impact assessment, urban planning and consulting services in 2013.

The Minister responsible for the sector was asked at the meeting to pay more attention for the initial investment of the industrial complex with the aim of processing minerals, and the project’s further implementation.

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