Ministry of Mining and Heavy Industry to implement rights of shareholder

Economy
unurzul@montsame.mn
2018-10-24 18:48:39

Ulaanbaatar/MONTSAME/ According to the decision made at the Cabinet meeting on October 24, the Ministry of Mining and Heavy Industry and the Government Agency for Policy Coordination on State Property will implement shareholder's rights in the state ownership in ‘Mongolian oil refinery’ state-owned limited liability company.  


The Cabinet assigned the relevant minister and head of the agency to hold meetings and talks on creating reliable oil supply and work promptly to resolve financial sources for oil pipeline and select company for project management consultancy and contractors.

To date, a performance of the constructional work of 17.5 kilometer-long special purpose high-capacity road for oil refinery, which will be put into operation in 2022, is going at 35 percent. In addition, Work performance for 3.7 kilometer-long bridge linking auto and rail roads is at 50 percent and for 27 kilometer-long railway embankment and earthworks at 65 percent. It is planned to complete constructions of 110kW electricity transmission line and substation by next month.