Ulaanbaatar
Development for Darkhan leather, hide complex 23 percent complete
Economy
Ulaanbaatar /MONTSAME/. On December 24, the cabinet convened a weekly meeting and approved a company charter for “Darkhan leather and hide complex development” state-run limited liability company.
As stated in the charter, the company will be operating under full state ownership and have single shareholder.
For the development of Darkhan leather and hide complex, the company will be engaged in performing consulting services, capital accumulation, investment, capital management, infrastructure development and infrastructure capital ownership and allocation. The company’s equity capital will have 200 million shares of MNT 100 per common stock.
The development of Darkhan leather and hide complex is currently underway with 23 percent completion. Investment for its electricity, heating and water treatment facilities have been raised through private money as well as loan from Development Bank. The project’s total development capital is over MNT 552 billion.
