Road construction financing

Apr 1 • Business, Construction, Infrastructure, News • 2509 Views • 1 Comment on Road construction financing

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During his visit in Dornogovi aimag recently, Prime Minister Norov Altanhuyag has called for immediate steps to facilitate customs clearance in cross-border transport. He also tasked to construct a custom clearance buildings and 2.3 km road for custom inspection by June. Last Saturday, the Cabinet meeting decided to implement issues and agreed to finance by Development Bank fund of MNT 33 billion. Also resolution covers to build 8.7 km heavy duty paved road from Custom inspection area to loading terminal by mid of October of this year.

Currently Zamiin-Uud port suffers heavy burden in cross-border transport due to beginning of construction season, especially after April each year, and at the peak of traffic, cargo delivery is badly delayed by about 20 days, authorities said. In recent years, port congestion further deteriorated due to enhanced Mongolia-China trade.

Government decided to connect 6 aimags Dornogobi, Dundgobi, Dornod, Umnugobi, Bayankhongor and Khuvsgul to Ulaanbaatar City in 2013 and by the year of 2016 all centers of all provinces will be connected with paved roads. Total 1400 km road to be constructed in 2013 accordingly, which is the biggest ever investment for a year, authorities said.

The Cabinet meeting approved a list of construction works and technological inspection and made a decision to finance MNT 570 Billion for the road projects, implementing in 2013.

Mongolian National News Agency reported that a construction of a one thous. kilometers’ high speed road in Altanbulag–Ulaanbaatar–Zamyn-Uud route (connecting the northern point to the southern point) will start this May and finish in October of 2015.

This work is to done by a Concession agreement, an executor company will own it 2015-2040 and return to the state in 2040. The total cost of the project is USD 3.5 billion (3.5 million per kilometer), 70% will be financed by international investors, the rest by the “Chinggisland Development” group which consists of more than ten Mongoplianbig companies.

The high-speed road will be two-way, covered by 70-sm thick emulsified asphalt according to the international C1 category. The European standards will be strictly adhered in the construction of this road which will connect Asia and Europe. As expected, this road will also help Russia and China have their markets get closer and increase a trade volume, and will develop satellite towns and service centers. Several foreign companies are supposed to take part in the projects including Italian and North American famous ones.

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One Response to Road construction financing

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