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AmCham Mongolia Daily Newswire

October 16, 2018

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Prime Minister U. Khurelsukh visits Dornogobi oil refinery construction site
On October 15, Prime Minister U. Khurelsukh visited Dornogobi Province to observe the ongoing construction of an oil refinery located in Altanshiree soum. The construction of the refinery's infrastructure commenced in June with road, railway, and power line construction now at 40 percent completion. According to officials from Mongolian Oil Refinery, a state-owned company, over 500 people have been working for the project. The oil refinery is estimated to have a 40 year lifespan, as indicated in a preliminary study, and that its production will cover its financing costs within the first ten years of operations.   

The National Post /page 2/
Redevelopment project commences in Khalkh Gol soum
Mongolia and the Russian Federation have agreed to jointly celebrate the 80th anniversary of the Khalkh Gol victory of World War II in 2019. To mark the anniversary, a new project to redevelop Khalkh Gol soum officially commenced on October 12. President Kh. Battulga had presented a project proposal concerning Khalkh Gol soum to President of Russia Vladimir Putin, and the Russian side agreed to provide nearly 10 million USD in financing for the project. A local administration office, cultural center, hospital, a school for up to 650 students, a kindergarten for 150 children, a sports hall, parking lot, and park will be built with the financing.                  

Daily News /page 2/
 
BoM’s Supervisory Board meets to discuss economic stability   
The Supervisory Board of the Bank of Mongolia held a regular meeting on October 12, to discuss Mongolia’s balance of payments and the central bank’s foreign asset placement operations. Members of the Supervisory Board emphasized the critical role of monetary and fiscal policies in supporting export production, a foundational step toward ensuring the Mongolian tugrug’s stability.
Today /page C1/
Zamyn-Uud logistics center opens
A regional logistics center in Zamyn-Uud soum, Dornogobi Province has opened. The project was financed by the Government of Mongolia and Asian Development Bank. The Zamyn-Uud Intermodal Logistics Center includes 11.6 km of rail line connections, in standard and Russian gauges; a 1.6 km road and overpass; and two cargo transfer platforms, covering a total of 128 hectares. It is expected that the volume of transit, export, and import transport passing through Mongolia will increase with the launch of the logistics center.              
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