Ulaanbaatar
Investment agreement on Moncement Plant approved
PoliticsUIaanbaatar /MONTSAME/ On December 21, the cabinet approved a draft of Investment Agreement on Moncement plant project, and permitted Minister of Industry D.Erdenebat to sign the agreement on behalf of the Government.
The project on building a high-tech lime and clinker plant, based on the limestone deposit of Senjit Khudag of Orgon soum, Dornogovi aimag, was commenced in 2006. When commissioned, the plant is expected to produce 984 thousand ton quarries, one million ton cement, 100 thousand ton lime per year. It is estimated that the plant, equipped with eco-friendly dry processing technology, will make contribution of 21.8 billion MNT each year and total of 458.1 billion MNT taxes to the State Budget. The plant is to offer 375 new jobs.
By signing the investment agreement, which reflects the amount of investment, project stages, sources, stabilized tax conditions and responsibilities and rights of the government and the investor, the project works are to be forwarded.
The investors include the Development Bank of Mongolia and European Bank for Reconstruction and Development, as well as Senj Sant LLC.
