SOUTHGOBI SAND LLC PAYS OFF DEBT TO STATE BUDGET

Ulaanbaatar /MONTSAME/ Executive Director of the SouthGobi Sands LLC Ch.Munkhbat met Deputy Chairman of the Cabinet Secretariat U.Byambasuren on February 22. He introduced that the SouthGobi Sands Company has completely paid off its debt of MNT 35.3 billion according to the court decision. The Government issued a resolution regarding taking action on repayment of MNT35.3 billion of the Company to the state budget in 2016. In the resolution, the Government assigned the SouthGobi Sands LLC to equally allot MNT 15 billion in 2016 and 2017 and to satisfy MNT 20.3 billion through executing works for Tavantolgoi mining. "We have fully fulfilled the court decision and the Government resolution timely," said the Executive Director. “We are thankful to the Government on making decision to support private sector when the company was in difficult condition. More than 400 workers of our company could remain with salary and income.” The Company plans to export 5.5 million tons of coal, of which 800 thousand tons are concentrated in 2018. B.Batchimeg