Altan San Securities - Mongolia Investment - Consultant companies chosen for airport construction

Consultant companies chosen for airport construction

An agreement was signed last week with two Japanese consultant companies, Azusa Sekkei and Oriental Consultants, on construction of a new international airport in Khoshigt Valley in Tuv province.
The two companies have been selected by JAICA and the Finance Ministry of Mongolia. The Khoshigt Valley is situated 50 kilometers southwest of Ulaanbaatar. The new airport will relieve the pressure on Chinggis Khaan Airport by offering multiple departure and arrival routes.

The two companies will now choose executing companies through tender bids. The building and construction plans will be ready within this year, and the tender will be announced in 2010. Construction will be done between 2012 and 2015.
The Mongolian Government will pay for the construction with a 40-year soft loan from the Japanese International Cooperation Bank for JPY28 billion and 807 million. Repayment over the first 10 years will be free of interest, thereafter it will be 0.2 percent a year.

Source: Montsame

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