Cabinet approves draft agreements on infrastructure development
The Cabinet discussed and approved draft special loan agreements on projects ‘Construction of steel-concrete bridges on Tuul River in Bayanzurkh and Sonsgolon’.
Cabinet approves draft agreements on infrastructure development. The Cabinet discussed and approved draft special loan agreements on projects ‘Construction of steel-concrete bridges on Tuul River in Bayanzurkh and Sonsgolon’ and ‘Construction of Ulaanbaatar-Mandalgobi electricity transmission network and electrical substation’ to be established by the Ministry of Finance and Chinese Export-Import Bank. From USD 1 billion soft loan issued by the Export-Import Bank following an agreement established with Mongolian Government in 2015, USD 118 million funds will be allocated for the Ulaanbaatar-Mandalgobi electricity transmission network and electrical substation project. With establishment of the agreement, the Cabinet views, electricity will be distributed to major mines like Oyu Tolgoi, Tavan Tolgoi and Tsagaan Suvarga, and moreover, there will be two electricity sources when Tavan Tolgoi power station launches its operation. The Bayanzurkh Bridge on Tuul River, inaugurated in 1963 and 1965, will be enlarged with the project, and the road leading to Sonsgolon Bridge will be expanded to a four-lane road.
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