Bids for new railway project advisors announced

March 28 (news.mn) The "Mongolian Railway" State Owned Shareholding Company has been granted a special mandate to develop a project to build 1800km of railway. In 2013 the tenders to select advisor companies for the project should be arranged.

In accordance with international examples on large scale projects, a tender to select financial, technical and legal advisor companies was publicly and internationally announced on February 2nd.

On March 27th tender bidders for the tender for the "New Railway" project were announced during a ceremony at the Mongolian Railway State Owned Shareholding company headquarters in Ulaanbaatar. Bidders from Japan, South Korea, USA, Australia, Canada and England delivered their bids to compete for the tender as advisory company.

Four companies that have experience working on mining and railway projects delivered their bids for the tender as financial advisors to raise capital to develop the project.

Three of the bidders are companies who wish to compete for the tender as law advisors to negotiate with investors and develop a contract for the project.

Four bidders aimed to be the technical advisor to help conduct geology, geodesy and environmental impact assessments, develop construction and technical plans took part in the bidding.

Officials announced that the valued and experienced companies would soon be selected to sign a contract.

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