STATEMENT: The opening of the Zuunbayan-Khangi railway, booster of Mongolia's exports and economy

(Information sent by the signatory company).

STATEMENT: The opening of the Zuunbayan-Khangi railway, booster of Mongolia's exports and economy

(Information sent by the signatory company)

The opening of the Zuunbayan-Khangi railway will give a big boost to Mongolia's exports and economy

ULAANBAATAR, Mongolia, Nov. 25, 2022 /PRNewswire/ -- Mongolian Prime Minister L. Oyun-Erdene today inaugurated a major new rail link that will provide a significant boost to the country's export competitiveness and the economy in general, as part of the Government's "New Recovery Policy".

The Zuunbayan-Khangi railway, which runs 226.9 km through southeast Mongolia, provides a vital connection between the Tavantolgoi-Zuunbayan railway and the Khangi-Mandal border crossing on the Mongolian-China border.

Through a new connection with a new railway that is being built on the Chinese border, the transport distance of goods through this important economic corridor will be reduced by almost half, significantly boosting the trade of minerals such as iron ore.

Although the construction of the Zuunbayan-Khangi railway line will not start until March 2022, the completion of this project will bring a rapid 30% increase in Mongolia's export freight volume, bringing the annual freight volume to stabilize at around double its current level of 10.4 million tons from 2025, which will significantly boost state budget revenue and local employment.

Following the inauguration, Mongolian Prime Minister L. Oyun-Erdene stated:

"The new Zuunbayan-Khangi railway was built in just eight months, using a public-private partnership investment model, and is Mongolia's new gateway to transport mining export products competitively to the world market."

"Today's inauguration marks an important milestone in the Government of Mongolia's 'New Recovery Policy', which focuses on strengthening the country's economy after the pandemic and making Mongolia a leading country in Asia by 2050. "

Landlocked, Mongolia relies on 42 dry-lane border points for its trade, but as of March this year only three of them were connected by rail. The completion of this project marks a second new railway crossing in the south of the country, and the ambition of the New Recovery Policy is to ensure that all border points are connected by roads, railways and highways in consecutive crossings.

180 companies and more than 3,500 workers have participated in the construction of the railway.

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