ID :
192974
Tue, 07/05/2011 - 13:52
Auther :
Shortlink :
http://m.oananews.org//node/192974
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CABINET INTRODUCED TO DRAFT CONTRACT ON TAVAN TOLGOI DEPOSIT
Ulaanbaatar, Mongolia, /MONTSAME/ An irregular cabinet meeting held July 4 decided to submit to parliament a draft contract on exploitation of Tavan tolgoi coal deposit.
A head of the Cabinet Secretariat of Government Ch.Khurelbaatar has introduced to the cabinet a final version of the investment draft. The sides of the contract managed to reach agreements in all terms, he said, for example, in running railways to southern and eastern parts of the country, "which is very beneficial for Mongolia", in erecting a power station of 600 Megawatt, in constucting factories to produce liquid fuel from coal and coking coal.
Thanks to strongly adhering to its position, Mongolia is to receive now non-refundable money of USD 500 million from the investors and up-front of USD 500 million.
Mongolia has chosen the U.S. miner Peabody Energy, China's Shenhua and a Russian-Mongolian consortium to let them develop the Tavan tolgoi coal deposit in Omnogobi. The Shenhua group is to have a 40 percent share, Peabody 24 percent, and the remaining 36 percent is to be divided equally between the partners in the Russian-Mongolian consortium, Khurelbaatar said.
The cabinet has praised the works a working group did on the draft and decided to submit it to the National Security Council and then to the State Great Khural.
B.Khuder
A head of the Cabinet Secretariat of Government Ch.Khurelbaatar has introduced to the cabinet a final version of the investment draft. The sides of the contract managed to reach agreements in all terms, he said, for example, in running railways to southern and eastern parts of the country, "which is very beneficial for Mongolia", in erecting a power station of 600 Megawatt, in constucting factories to produce liquid fuel from coal and coking coal.
Thanks to strongly adhering to its position, Mongolia is to receive now non-refundable money of USD 500 million from the investors and up-front of USD 500 million.
Mongolia has chosen the U.S. miner Peabody Energy, China's Shenhua and a Russian-Mongolian consortium to let them develop the Tavan tolgoi coal deposit in Omnogobi. The Shenhua group is to have a 40 percent share, Peabody 24 percent, and the remaining 36 percent is to be divided equally between the partners in the Russian-Mongolian consortium, Khurelbaatar said.
The cabinet has praised the works a working group did on the draft and decided to submit it to the National Security Council and then to the State Great Khural.
B.Khuder
