Ulaanbaatar
Government aiming to reduce rebar price to support construction projects
Politics
Ulaanbaatar /MONTSAME/. During its weekly meeting dated May 27, the cabinet reviewed the current progress on the apartment building projects planned in Ulaanbaatar city and rural aimags.
The government is paying extra attention on financing infrastructure projects, which will serve as foundation to the apartment building projects, reports the Press Office of the Cabinet Secretariat. The Ministry of Construction and Urban Development introduced that price of steel reinforcing bar – one of the main commodity in concrete construction, which have already doubled on world markets, is posing challenges to the construction works.
Following the presentation, Prime Minister L. Oyun-Erdene relevant officials to establish a working group in charge of reducing or stabilizing the price of reinforcing steels and present solutions to tackle this matter to the next week’s cabinet meeting.
In 2020, Mongolia imported 240,000 tons of reinforcing bars and produced 12,000 tons with the help of its domestic sources. As of May 2021, 50,000 tons of rebar have been imported from abroad while 5,000 tons have been manufactured internally. The Construction Ministry concluded this year’s demand for rebar reaches 220,000 tons.
