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Premier N.Altankhuyag makes statement regarding projects financed by Chinggis Bond

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Prime Minister N.Altankhuyag made a statement regarding projects financed by the Chinggis Bond, during a joint Parliamentary session meeting. As of March 31, 2014, financing equivalent to 1.3 trillion MNT has been issued to 10 projects from the 1.5 billion USD in Chinggis Bond resources.

Chinggis Bond money is being spent on provincial road projects to connect aimag centers with Ulaanbaatar, the “Street” project, Ulaanbaatar’s engineering network, infrastructural projects, new railway projects, Tavantolgoi, a power plant in Egyn River, “Byant Ukhaa 1” apartment town, and in supporting industrialization in the construction and agricultural sectors, N.Altankhuyag said, and introduced the process and results of the projects.

For the provincial road projects, Dundgobi and Bayankhongor aimags have been connected to Ulaanbaatar with paved road or highways. Road construction to Umnugobi, Dornod, Sukhbaatar and Khuvsgul aimags are expected to be complete by August. As of today, construction of 930 kilometers of an 1,800 kilometer road being built by financing from the Chinggis Bond, has been completed. Road construction performance is at 68 percent, stated Prime Minister N.Altankhuyag.

A total of 1,800 kilometers of railway will be constructed from Tavantolgoi-Sainshand-Choibalsan and Tavantolgoi-Gashuunsukhait as part of the New Railway project. The 164.2 million USD construction of 267 kilometers of railway is being financed by the Chinggis bond. Performance of the 267 kilometers of railroad construction is at 25 percent, according to Prime Minister’s statement.

For UB’s Street project, focused on reducing traffic congestion, air pollution and improving city planning, the renovation of 33 separate four-way road crossings has been planned. Currently, renovations have taken place at 17 of these crossings. The first phase of financing of a highway to be constructed along the Tuul and Selbe rivers has been issued. Construction work will start this June.

A total of 92 projects worth 416 billion MNT have been planned for implementation in 2013 and 2014, to improve Ulaanbaatar’s engineering networks and infrastructure. In the first phase, Development Bank will issue financing of 200 billion MNT, and has delivered 101.8 billion MNT now. Within the mid-term target program “New Construction”, the drinking water, sewage, electricity, heating and cable engineering system issues of seven apartment towns and 10 ger districts will be completely resolved. The performance of a 30-year contract is now at 70 percent.

A financing contract of 269 billion MNT to promote five sectors, including wool, cashmere, milk, sewn products and garden agriculture, was signed by the Ministry of Industry and Agriculture and Golomt Bank. Golomt Bank has received the materials and documents of 189 companies, and has issued loans of 53.7 billion MNT to 53 companies.

Construction of a power plant with a capacity of 450 megawatts at Tavantolgoi coal mine has received financing of 14 million USD from the planned 16 million USD financing in the first phase. Also, a decision was made to grant 34 million USD from the Chinggis Bond for the Egyn River hydro-electric power plant project.

The government is financing the construction of 28 apartment buildings for 1,764 families, named Buyant Ukhaa 1 Apartment Town, which will belong to the state apartment corporation. The apartments designated for young families, the elderly and public servants, will cost one million and 280 thousand MNT per square meter. The construction of nine apartment buildings which will house 567 families has been completed and the rest of the buildings will be available by the second quarter of this year.

The total cost of the Factory project to produce houses is 42 million USD. Erel LLC invested 13.1 million USD and the government has issued financing of 14 million USD from the Chinggis Bond. The project is expected to produce houses and is expected to reduce the air, ground and water pollution of Ulaanbaatar. The project will produce houses for 5,000 families and provide homes to 184 thousand UB households, reported Prime Minister N.Altankhuyag at the parliamentary meeting.


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