OT investors to cooperate at Tavan tolgoi mega project

Ulaanbaatar /MONTSAME/ At OT Managing board meeting December 11-13, shareholders agreed to cooperate at Tavan Tolgoi mega project. The Oyu Tolgoi board meeting discussed issues remained in dispute, before approval of the 2014 budget. After the meeting, the investors announced their plan to cooperate in Tavan Tolgoi mega project of the Government. However, issues regarding involvement and volume of investment are expected to be discussed early next year. Besides the Tavan Tolgoi power station project, they touched upon the financing issue of the underground mine of Oyu Tolgoi, yet leaving it for further discussion. Both Mongolian and foreign parts agreed to grant a loan in order to solve the funding; however, the date to receive the loan is still not clear, but a mere speculation that five sources including the World Bank and some foreign Development Banks are expected to grant the loan.