Mongolia Celebrates Completion Of ETT’s Heavy-Duty Railway Project

ULAANBAATAR, Mongolia, October 03, 2022–(BUSINESS WIRE)–The completion of the Erdenes-Tavantolgoi (ETT) Tavantolgoi-Gashuunsukhait Railway Venture has been hailed as a milestone of co-operation within the face of a many longstanding challenges, and celebrated as a significant increase for the Mongolian economic system.

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Mongolia Celebrates Completion Of Tavantolgoi-Gashuunsukhait Heavy-Obligation Railway Venture. (Picture: Enterprise Wire)

Talking on the opening, President Khürelsükh Ukhnaa expressed, on behalf of the Mongolian folks, “our deepest gratitude and heat congratulations to ETT for placing this railway into operation on schedule, regardless of the tough scenario of worldwide geopolitics and epidemics in recent times.” He added that the event “has clearly proven the significance of mutual understanding, correct administration, rational coverage and accountability between the federal government and the personal sector.”

The primary-of-its-kind heavy obligation railway has introduced collectively greater than 600 enterprises and 5,000 staff. ETT’s CEO, Mr. Gankhuyag Battulga, recognising the affect that the development section of the venture has made, additionally expressed gratitude to “everybody who participated and supported this main growth in our nation, which is so vital for our economic system.”

The railway advantages from an absence of restrictions on transportation and border crossings, lowering prices fourfold. It supplies annual capability for a formidable 30-50 million tons of freight, particularly the cargo of coal to neighbouring China. Whereas it’s anticipated to generate a web revenue of $ 147.7 million, off an annual income of $ 268.9 million, the railway has additionally created about 2000 everlasting jobs, a major long-term funding within the native economic system which is able to enhance high quality of life for hundreds of individuals.

The venture was first began a decade in the past, however nearly instantly positioned on maintain by the Mongolian authorities in 2013 on account of monetary issues and mismanagement points. Re-initiated in March 2020 with the creation of Tavantolgoi Railway LLC underneath Authorities Decision No. 242, the venture was revitalised with Erdenestavan Tolgoi JSC chargeable for funding and financing. Collectively, these entities proceeded with spectacular tempo, ensuing within the venture’s completion in simply two years, notable for a venture of this dimension. The venture was accomplished within the face of quite a few logistical challenges offered by Covid, which makes its conclusion much more of an achievement.

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The Tavantolgoi-Gashuunsukhait Railway was simply one in every of nearly twenty ETT infrastructure initiatives nonetheless in growth, producing hundreds of jobs. Whereas its completion ends one lengthy and arduous problem, it opens important new long-term alternatives, and can proceed to affect on Mongolia’s economic system for generations to return.

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Contacts

Firm: Erdenes-TavanTolgoi JSC
Title: Enkhtur Sodnomtseren
Title: Communications Advisor
E mail: enkhtur.s@erdenestt.mn
Web site: http://www.ett.mn