TAVAN TOLGOI POWER PLANT: INVESTMENT SOLVED

The Mongolian Parliament has discussed the draft investment agreement of the Tavan Tolgoi power plant project was presented to the Speaker of Parliament Z.Enkhbold by the Government. Last February, Japan’s “Marubeni” Corporation” was selected as the foreign investor for Tavan Tolgoi.  The overall project investment is estimated at one billion UD dollars, 30% of which is in the form of direct investment and the rest in loans from international financial institutions such as banks.

The Taven Tolgoi power plant will have a generating capacity of 450 MW; this electricity will be used by Mongolia’s main copper mine - Oyu Tolgoi LLC. The two mines are located near to each other in the South Gobi. Tavan Tolgoi, is ranked as one of world’s largest coal deposits with 1.8 billion tons of proven and probable coal reserves and 7.4 billion tons of resource in accordance to the JORC mineral resource classification. Approximately, 1.5 million tons of thermal coal will be utilized from the Tavan Tolgoi deposit.

Source: http://www.news.mn/r/306579