|Head of the project M. Enkhsaikhan, discusses implementation of the US1 billion project|
The Mongolian government will own 34 percent of the power plant and foreign and domestic investors will possess the remaining percentage. According to preliminary estimations, nearly US1 billion is required for the project.
D. Delgertsogt, State Secretary at the Energy Ministry and head of the Committee for the project, said, “It is not so easy to find money for such a mega project. International experience shows that any mega project is successfully realized based on close cooperation of the public and private sectors.”
To implement the project, relevant participants signed an ‘Agreement to jointly develop the project’. For instance, ‘MCS Holding’ is to back resolving the energy and water issues required to construct the power plant and sharing its previous experience of building a power plant in the South Gobi. Also, Oyu Tolgoi Company, who will buy most of energy to be produced from the Tavan Tolgoi Power Plant, is to collaborate with the Project Unit.
M. Enkhsaikhan, head of the project unit, said, “To realize the project, we will prioritize spending time properly. Losing time during the implementation of the mega project increases costs and obstructs forward momentum; therefore, we aspire to work without making mistakes.”
During implementation of the project, principles will be followed to be transparent, efficient, just, and supportive for competition, and to not cause conflicts of interest.
Source: THE MONGOL MESSENGER