Mongolian railway development to be advanced
Australian-based Aspire Mining and its Northern Rail subsidiary have signed a memorandum of understanding with China Gezhouba Group International Engineering.
Australian-based Aspire Mining and its Northern Rail subsidiary have signed a memorandum of understanding with China Gezhouba Group International Engineering (CGGC) to advance a railway project in Mongolia. The Erdenet to Ovoot Railway extends more than 500 km and will extend from the former location to Aspire’s coking coal project in order to join together from northern Mongolia to China and international markets. The multi-user rail line will be available for transport of bulk materials, agricultural and general freight from the region to export markets including China, Russia, and seaborne markets. The MoU was signed in conjunction with a visit by the Mongolian prime minister to China. Aspire said a draft feasibility study for the Erdenet to Ovoot Railway was completed and submitted in March, with the pair aiming to finalize it by next month as it is a key document for obtaining financing. Their goal is to have an EPC contract for the line by November. Aspire said the Russian Ministry of Rail has requested a review of the rail feasibility study on completion before considering an investment. CGGC will be seeking to fund the remaining pre-development work per an October 2017 MoU, though that is subject to the connecting line having sufficient capacity for additional freight and sufficient time for the pre-development work to be completed.
Views: 1484
Tweet