Erdenet to Ovoot Rail concession extended

Oyundelger 2017-02-07 06:02

Mining

Aspire, the largest coal tenement holder in Mongolia’s Northern provinces has got approved an 18 month extension to the time required to complete the conditions precedent for the Erdenet to Ovoot Rail

Erdenet to Ovoot Rail concession extended. Aspire, the largest coal tenement holder in Mongolia’s Northern provinces has got approved an 18 month extension to the time required to complete the conditions precedent for the Erdenet to Ovoot Rail Concession Agreement. Northern Railways, a wholly-owned subsidiary of Aspire, now has until August 2018 to complete all the conditions precedent for the Erdenet to Ovoot Railway. The Mongolian Cabinet also approved a submission from Northern Railways to alter the alignment as it approached Erdenet to avoid a potential overlap with other infrastructure. This opened the way for approval for the extension in accordance with the Rail Concession Agreement. Engineering work performed as part of the submission shows that the alternative alignment does not add to the capital or operating costs of the Erdenet to Ovoot Railway.