Biocombinat expansion project expected to commence this June

2018-03-13 09:39:28
Ulaanbaatar /MONTSAME/ Mongolia and Hungary have agreed to make active efforts to launch the Biocombinat expansion project in June this year.

The matter was discussed on March 12 during a meeting between B.Batzorig, Minister of Food, Agriculture and Light Industry and Mihaly Galosfai, Ambassador of Hungary to Mongolia.

The Ambassador relayed the intentions of Foreign Minister and Agriculture Minister of Hungary to visit Mongolia for the project’s ground-breaking ceremony.

During the meeting, the sides discussed ways to intensify the project to expand the Biocombinat state-owned enterprise. The project contractor will be selected from a set of companies nominated by the Hungarian Government.

At present, the project evaluation committee has been established, and it is ready to approve the finalized tender documents and announce the tender. Therefore, Minister B.Batzorig noted the importance of timely nomination of companies by the Hungarian Government.

The Minister also expressed the possibility of support to the establishment a loan agreement between the Ministry of Finance and the Hungarian Export-Import Bank.