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Financial difficulties of Baganuur and Shivee-Ovoo companies to be resolved www.montsame.mn
Ulaanbaatar/MONTSAME/ At its regular meeting on May 16, the Cabinet made a decision to study a possibility to count loan of MNT110.7 billion, issued from the World Bank and Japanese Government to the Mongolian government, as investment to the coal mines Baganuur and Shivee-Ovoo.
It was decided to scrutinize estimations of the investment required to secure constant operations of Baganuur and Shivee Ovoo companies and expand their capacities with technical modernizations, and resolve the financial sources within next month.
The Cabinet obliged the Board of Directors of ‘Erdenes Mongol’ LLC and ‘Erdenes Tavan Tolgoi’ JSC to settle short-term payables of Baganuur and Shivee-Ovoo companies by June 1 with their internal resources, and corresponding minister to take stage by stage measures to increase the coal price to its actual cost.
Certain measures will be also taken to increase profitability of the companies, reduce production costs and improve its management.
M.Unurzul
Published Date:2018-05-17
