TENDER TO RESUME TO SELECT TT INVESTOR

Ulaanbaatar /MONTSAME/ The cabinet meeting on Thursday issued a resolution on taking some measures for the Tavan tolgoi deposit, considering as necessity to resume a bid for selecting an investor for the deposit. In accordance with the resolution, a working group will be set up by Ch.Saikhabileg, a head of the Cabinet Secretariat for Government, with responsibilities such as running and concluding the tender in November 1 of 2014 and establishing a contract with a selected legal subject in December 15 of 2014. Thus conditions will be created to put the mineral deposit into an economic circulation, to export enriched coal and to tackle a necessary infrastructure, factories and railways without imposing pressure over the state budget. Regarding a selection of an investor for this deposit, parliament had issued three resolutions--in 2008, 2010 and 2014 to give directions to the government, but it failed to do so due to some problems.