'ETT Bond' introduced to businesses

2021-04-06 17:14:43

Ulaanbaatar /MONTSAME/. A meeting to introduce the ‘ETT Bond’ issued by ‘Erdenes Tavantolgoi’ JSC to the primary market was held online at the Mongolian National Chamber of Commerce and Industry (MNCCI) today. The online meeting was co-organized by the Ministry of Mining and Heavy Industry, Erdenes Tavantolgoi JSC, BDSec JSC and MICC LLC, and attended by MNCCI member companies and business representatives.

’Government Resolution No. 42 dated February 17, 2021, approved the ‘MNT 10 trillion Comprehensive Plan for Health Protection and Economic Recovery’. According to Erdenes Tavantolgoi JSC, the plan calls for the issuance of ‘ETT Bonds’ in the domestic stock exchange and the start of major development projects in the mining, road, and transportation sectors within the first half of 2021.

The ‘ETT Bond’ was introduced to all member organizations of the MNCCI and the private sector to start the construction of the 450 MW Tavan Tolgoi power plant and related infrastructure.

At the meeting, Deputy Minister of Mining and Heavy Industry O.Batnairamdal, CEO of Erdenes Tavantolgoi JSC B.Gankhuyag, and President of the MNCCI O.Amartuvshin expressed their views on the bond. President of the MNCCI O.Amartuvshin said that the issuance of the bond would help the country to expand its economy during the difficult situation caused by the COVID-19 pandemic.

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