Russia- Mongolia-China highway construction to begin soon


The construction of a highway passing through Ulaanbaatar from Altanbulag to Zamiin Uud will soon commence. The project was awaiting approval on the placement of the highway, but on April 2, the plan was partially approved in accordance with an order from the Minister of Roads and Transportation.
The highway will pass through 24 soums of six provinces, and two districts of Ulaanbaatar. On April 24, the State Secretary of the Ministry of Roads and Transportation J.Bat-Erdene delivered official letters to governors of the six provinces.
When approving the plan for the 1,000 km highway on April 2, the Cabinet left 97 km unapproved, but an official source reports that the remaining part of the highway will soon be resolved.
On March 9, 2014, Chinggis Land Development and the Ministry of Economic Development established a concession agreement on building the highway with build-operate-transfer conditions.
The company worked on a feasibility study for the highway and conducted research on geology, geodesy, and hydrogeology. The highway will be a two-way six-lane road. Preliminary estimates suggest that 10 to 12 billion USD will be required for its construction.
Chinggis Land says its investment will be coming from long-standing cooperation with international investment foundations, banks, and financial organizations. The first round of investment is expected to be deposited in May.
Sixty to 70 percent of the investment will be spent on highway construction, while the remainder will be spent on development work along the highway. There are plans for many trade and service centers, resorts, tourism and business complexes, as well as new settlement zones, and modern eco cities to be developed along the highway.

Short URL: http://ubpost.mongolnews.mn/?p=14353

Posted by on Apr 28 2015. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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