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Wednesday, July 6, 2011

Mongolia Briefing is a magazine and daily news service about doing business in Mongolia. We cover topics relating to the Mongolian economy, the market in Mongolia, foreign direct investment and Mongolian law and tax. It is written in-house by the foreign investment professionals at Dezan Shira & Associates

Samsung C&T Corp to Build Railway Connecting Tavan Tolgoi with Chinese Border

By Elena Fehrbach

May 21 – South Korean Samsung C&T Corporation won the tender and signed the agreement for the construction of a 217 kilometer railway that will connect Tavan Tolgoi coking coal deposit with the Mongolia-China border.

The project also assumes construction of the relevant infrastructure, such as rolling stock depot. Samsung will be sole contractor to implement the project. Estimated cost of the project is US$483 million.

Samsung is the second biggest construction contractor operating in Mongolia. During the official interview to Korea IT Times, the representative of Samsung focused on the high assessment of Samsung’s experience with railway projects, excellence in technology and compliance to tight working schedules. Railway construction is the third project of Samsung in Mongolia. The company has entered Mongolian construction market in 2012 with Shangri-La Hotel and MCS office tower construction projects.

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