Railroads in northern Mongolia could form part of Economic Corridor

Odonchimeg 2016-05-05 08:05

Economy

Railroads in northern Mongolia could form part of Economic Corridor.

Planned railroads in northern Mongolia could form part of Economic Corridor. Government-level negotiations on forming an ‘Economic Corridor’ rail link between Russia and China via Mongolia are ongoing, according to Aspire Mining’s latest quarterly update. Its planned Erdenet-to-Ovoot railway could form the first stage of this new railway. The Erdenet-to-Ovoot line is being developed by Aspire Mining’s subsidiary Northern Railways under a public-private partnership with the government of Mongolia. As well as forming the potential first link in the Economic Corridor, it would connect Aspire’s metallurgical coal project at Ovoot to Mongolia’s existing railway system – and onto international markets. Northern Railways has completed the necessary staged to provide definition of the start of the rail feasibility study and is now seeking funding for this study and the additional work required to support the study. The proposed Economic Corridor forms part of China’s New Silk Road policy, which aims to improve Euro-Asian trade, and Russia’s policy of establishing a Euro-Asian economic zone. It aims to improve trade by reducing regulation, improving transport capacity at borders and improving road and rail infrastructure.