Ulaanbaatar
Road projects to be executed by loan from China
PoliticsUlaanbaatar /MONTSAME/ Funded by export soft loans by the Government of China, agreements will be concluded with the selected of the listed Chinese companies to build 114 km road between Tosontsengel and Uliastai of Zavkhan aimag, and 129.4 km road between Bayankhongor with Baidrag Bridge of Bayankhongor aimag. The cabinet allowed on Monday the Minister of Road and Transport M.Zorigt to manage the works.
The Minister was also assigned to conclude the agreement on consulting for building of Ulaanbaatar-Khoshig Valley Airport (NUBIA) highway.
The former Premier of the State Council of the People’s Republic of China Wen Jiabao paid a visit here in 2010 and opened a easy-term credit line of USD 500 million. Following the deal, the governments agreed to implement 13 project, funded by the credit.
The credit is allowed with 2 percent annual interest and repayment condition of 20 years.
The list of projects was issued by Cabinet in 2015, in an annex to the Resolution No 309 on “Project to be realized on credit funding”.
As China’s Government proposed, the road and construction projects will be executed by the suitable companies, selected from the listed Chinese companies.
