Constructional project of thermal power plants advances
EconomyUlaanbaatar/MONTSAME/ At its
regular meeting on December 12, the Cabinet decided to authorize the Minister
of Finance Ch.Khurelbaatar to sign a loan agreement for ‘Project to construct
thermal power plant in centers of 10 aimags’ to be established between the
Ministry of Finance of Mongolia and the Export-Import Bank of Korea.
Within the project, thermal
power plants will be constructed in Arkhangai, Bayankhongor, Gobi-Altai,
Gobisumber, Dundgobi, Zavkhan, Uvurkhanga, Sukhbaatar, Khentii and Tuv aimags
alongside expansion of heating network and modernization of equipment.
The plants will be built
with the soft loan worth over USD148 million. The loan with 0.15 percent interest
will be repaid within 40 years and will have a moratorium period of 10 years.
Moreover, the Cabinet made a
resolution on authorizing to sign the Loan Agreement objecting to the reduction
of air pollution of Ulaanbaatar city.
The agreement reflects that
USD40 million out of USD60 million which is stipulated to be a budgetary
support will be received this year and remaining USD20 million will be received
in the third quarter of next year. The loan has repayment term of 30 years,
interest of 1.5 percent and moratorium period of 10 years.