‘Erdenes Tavan Tolgoi’ allocated MNT 480 billion to the state budgetEconomy
Ulaanbaatar /MONTSAME/ Erdenes Tavan Tolgoi JSC sold a total of 13.5 million tons of coal last year. In 2018, the company’s revenue from sales reached MNT 1.86 trillion, with net profit of MNT 720 billion and MNT 480 billion allocated in the state budget, noted B.Gankhuyag, CEO of Erdenes Tavan Tolgoi JSC.
The Government made a decision on comprehensive development of the Tavan Tolgoi deposit and prepares for the IPO on international market. It is also planned to commence and continue major projects of railway, road and coal enrichment plant.
In 1019, ‘Erdenes Tavan Tolgoi’ plans to raise capital from international IPO for continuation of railway, road, coal washing plant, conveyor system and water supply projects, and start the construction of new town named after the company.
In addition, the company announced that it plans to increase its capacity up to 18 million tons, build new camps for its employees, office buildings, roads, school and kindergarten, acquire equipment for its own, implement ‘Green wall of Gobi’ project, expand briquette production plant, which will bring dramatic change in reducing Ulaanbaatar’s air pollution, establish center for coal truck drivers, plan and organize a number of activities to support all fields of business sector.