Ulaanbaatar
Deputy Prime Minister Highlights Tangible Progress on Government’s Mega Projects
Politics
Ulaanbaatar, May 21, 2025 /MONTSAME/. During the regular session of the Cabinet of Mongolia on May 21, 2025, Deputy Prime Minister and Minister of Economy and Development of Mongolia Gantumur Luvsannyam presented an update on the progress of the 14 mega projects included in the Government’s Action Plan.
The Deputy Prime Minister emphasized, “The Government has made concerted efforts to prioritize these mega projects and develop a unified understanding of their implementation. As a result, we have achieved tangible progress. We have signed a soft loan agreement for the Erdeneburen Hydropower Plant, advanced the construction of the Gashuunsukhait-Gantsmod cross-border railway, ratified an additional financing agreement for the Oil Refinery Project, and concluded an Investment Agreement for the Mongolia-France Joint Uranium Project.”
The mega projects have been categorized into four key areas based on their economic and social impact:
Projects aimed at expanding export capacity that are expected to double Mongolia’s export revenue, reduce transportation costs by 50 percent, and open a new international trade corridor connecting Asia and Europe;
Projects aimed at increasing domestic production that are expected to establish domestic capacity for steel and metallurgical production using strategic raw materials, meet 50-60 percent of the country’s fuel demand through domestic supply, and enable the emergence of a new petrochemical industry based on advanced technologies;
Projects aimed at enhancing energy supply that are expected to improve energy reliability in key mining regions, introduce a regulatory power source for the Central Energy System, and save an estimated USD 45-50 million annually in import costs, while supplying clean, affordable electricity to consumers;
Projects aimed at developing social infrastructure.
Currently, five of the 14 mega projects are under implementation. These include the Cross-Border Railway Connections at Key Border Crossings, particularly the cross-border rail links and reload terminals at the Gashuunsukhait-Gantsmod border checkpoint, the Mongolian Oil Refinery, the Mongolia-France Joint Uranium Project, the Erdeneburen Hydropower Plant, and the blue coal plant within the Petro-Chemical and Coke-Chemical Industrial Complex Project.
