Agreement on V Power Plant to be signed
The Minister said “the turmoil caused by the bond that was solved in the earlier stages could help preparation for construction and refurbishment work that is being done. Therefore we have the advantage to start all construction work as soon as the weather becomes pleasant.
We predict many benefits that will stabilize currency prices and protect from the pressure of price increases.
The bond asset is planned for the development of a few projects. First and foremost the Government decided to invest 300 million US dollars for a 1300 km road to connect aimags Dornogobi, Dundgobi, Dornod, Umnugobi, Bayankhongor and Khuvsgul to Ulaanbaatar City. There is also a project for a 276 km road between Tavantolgoi and Gashuunsukhait that has been earmarked for an 800 million US dollar investment. The Government will cover half of the investment from bond assets.”
The Government is also expected to sign an agreement for construction on V Power Plant before Tsagaan Sar to solve electricity shortages that Ulaanbaatar city is now facing.
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