Defense Industrial Group to purchase UBM mobile factory

Ulaanbaatar /MONTSAME/ “The Defense Industrial Group”,a state-run entity and subsidiary at the Ministry of Defense of Mongolia, is to buy a UBM (Ultimate Building Machine) mobile factor from the MIC Industries Inc. of the USA. At its Monday’s regular meeting, the cabinet of Ministers assigned the Development Bank (DB) of Mongolia to issue a guarantee for a loan from the US Ex-Im Bank to cover 85 percent of required funding, and to settle the rest of the funding through the Government bond source. Minister of Finance B.Bolor and Minister of Defense Ts.Tsolmon were obligated to reflect the payables in the state budget for 2017-2019. MIC Industries presented a proposal on their product to the PM Ch.Saikhanbileg while he was visiting the USA last June. At the market value of today, 48x28 building’s construction works cost around MNT 1.3 billion, while it would cost 300 million with a help of UBM mobile factory, estimated the officials. The UBM factory is capable of constructing 100 square meter building per day. The defense industry and other construction projects can utilize the purchased mobile factory, says the officials.