CABINET DRAWS DECISION ON RAILWAY CONSTRUCTION
Ulaanbaatar, Mongolia /MONTSAME/ At its Wednesday meeting, the cabinet backed in principle draft concession contracts on giving rights to construct, utilize and transfer to the state ownership the base structures of the Sainshand--Tavan tolgoi and Ukhaakhudag--Sainshand railways both 225 km long.
The State Property Committee (SPC) has been ordered to attract the "Erdenes Tavantolgoi" company to the concession so that it ensures the state role and control.
In accordance with the cabinet decision, national investors will be provided with opportunities to cooperate, and some shares will be openly traded to people through the stock exchange; 51 per cent of the railway stocks will be passed to the state during the constructing and utilizing period with charge, and without charge when contract time expires.
B.Khuder
The State Property Committee (SPC) has been ordered to attract the "Erdenes Tavantolgoi" company to the concession so that it ensures the state role and control.
In accordance with the cabinet decision, national investors will be provided with opportunities to cooperate, and some shares will be openly traded to people through the stock exchange; 51 per cent of the railway stocks will be passed to the state during the constructing and utilizing period with charge, and without charge when contract time expires.
B.Khuder
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