Shenhua reiterates interest in Tavantolgoi
Shenhua, China’s leading coal miner, has been interested in Tavan Tolgoi since 2003. The company’s president Ling Wen recently said Shenhua had submitted its bid for a second time, adding that it “has the greatest competitive advantage over other bidders”.
The Mongolian government said previously that successful bidders must also invest in infrastructure construction in the country as part of the deal. Since the start of 2009 Shenhua has been building the Gan Quan Railway to transport coking coal from Tavan Tolgoi. The CNY4.7 billion railway will be completed and put into operation in 2011.
“Compared with their foreign counterparts, Chinese enterprises are not necessarily well positioned to win the auction,” said an analyst, citing the example of Australian and Japanese enterprises, which have offered training programs to their Mongolian employees. “But Chinese enterprises could make good use of the deepening Sino-Mongolia economic cooperation, echoed by Premier Wen Jiabao’s upcoming visit to Mongolia, during which Wen is expected to discuss with his Mongolian counterpart the issue of financing Mongolia’s mineral resources projects,” he added.
source: www.news.mn
The Mongolian government said previously that successful bidders must also invest in infrastructure construction in the country as part of the deal. Since the start of 2009 Shenhua has been building the Gan Quan Railway to transport coking coal from Tavan Tolgoi. The CNY4.7 billion railway will be completed and put into operation in 2011.
“Compared with their foreign counterparts, Chinese enterprises are not necessarily well positioned to win the auction,” said an analyst, citing the example of Australian and Japanese enterprises, which have offered training programs to their Mongolian employees. “But Chinese enterprises could make good use of the deepening Sino-Mongolia economic cooperation, echoed by Premier Wen Jiabao’s upcoming visit to Mongolia, during which Wen is expected to discuss with his Mongolian counterpart the issue of financing Mongolia’s mineral resources projects,” he added.
source: www.news.mn
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