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Mongolia : EBRD to support construction of MONGOLIA's Senj Sant dry cement plant with $65 million finance

August 5, 2014

The European Bank for Reconstruction and Development (EBRD) will support the construction of the Senj Sant dry process cement plant in southern Mongolia.

An agreement was signed by First Vice President Phil Bennett to provide $65 million fund to Senj Sant following a $20 million equity investment deal last May.

Bennett said, This project represents yet another step towards the diversification of Mongolia s economy.

Mongolia s Monpolymet Group owned company will be using the loan to continue the construction, commissioning and operation of the plant, expected to daily produce about 3,000 tons of cement in 2015.

Monpolymet Group CEO Munkhnasan Narmandakh said, The EBRD s long-term finance, including equity, is not only helping us build the first greenfield cement plant in Mongolia using environmentally friendly dry process but also supporting the company in raising business standards to international levels.

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Source: TendersInfo (India)

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