China to give $1 billion soft loan to Mongolia for road construction www.akipress.com
Governor of the capital city S.Amarsaikhan and Director of Representative Office of China’s Sinohydro Corporation Limited Company in Mongolia Jiang Guo signed an agreement on Nalaikh road expansion and development.
With $1 billion soft loan from Chinese government, 20.9 km long motor road will be built from Gachuurt crossroad to Nalaikh and Choir cross-road, Mongolian news agency Monstame reports.
"Nalaikh road is one of the most important infrastructure that relates to development of the capital and safe travel of the citizens. The road not only connects eastern provinces and Zamyn-Uud and Choir with the capital city, also it has great significance to increase volume of trade. Moreover, 600-700 thousand foreign and domestic tourists travel on this road. Therefore, the Government and the Governor’s Office have paid special attention to take urgent action on reconstructing the road," the Governor said.
Sinohydro Corporation Limited Company, a contractor of the agreement, will commence construction of the road from April 1 to complete it within 2019.
The sides noted that local people are available to participate in the construction as an assistant contractor. By doing so, the citizens will have income.