Russia Rail may spend $1.5 bln in Mongolia coal project

MOSCOW May 31 (Reuters) - A consortium of investors including Russian Railways (RZhD) are ready to spend up to $1.5 billion on rail infrastructure in Mongolia if the group wins a bid for the Tavan Tolgoi coal field, RZhD said on Tuesday.

RZhD head Vladimir Yakunin also told journalists that Mongolia will decide on the list of final bidders in June or July for the railway infrastructure project to ship coal from the field.

Mongolia is in the process of deciding how to develop the massive Tavan Tolgoi field, which holds about 7.5 billion tonnes of coking coal. (Reporting by Alfred Kueppers)

Source:Reuters news wire service